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Weapons of Mass Destruction (WMD)

Iran's oil incomes still rising

IRNA - Islamic Republic News Agency

Tehran, Oct 16, IRNA -- The statistics for Iran's oil exports and the price of each oil barrel of the country suggests that Iran's oil incomes are still rising compared to the figures in the previous year, according to the Head of Iran's Plan and Budget Organization Mohammad-Baqer Nobakht.

"Based on a last week report by Ministry of Petroleum, we managed to export 2.313 million barrels of oil with an average price of $70.76, while this year's budget law had predicted the price to be nearly $55," Nobakht said speaking at a meeting to consider drafting budget bill for the next Iranian calendar year.

He cited a recent report by International Monetary Fund (IMF) and noted that Iran is in better economic condition in 2017 comparted to other countries in terms of oil, trimming the unemployment rate and harnessing the rate of inflation.

Checking the high inflation rate to lower into the single digit status and creating proper jobs in the period testify government's success, Nobakht said, expressing hope that the country would overcome difficulties and continue economic growth.


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