![\"oil-prices-drop\"](\"https:\/\/www.ncr-iran.org\/en\/wp-content\/uploads\/sites\/2\/2014\/10\/oil-prices-drop.jpg\" "\\"oil-prices-drop\\"")
<\/p>\n<\/p>\n
As the downward trend in oil prices on the world markets continues, the Iranian regime is lowering the crude price for this year\u2019s budget to $40 a barrel.\u00a0<\/p>\n
The government is revising its draft budget to assume a base price of $40, from $72, the state-run Fars News Agency reported Finance and Economy Minister Ali Tayebnia as saying today.<\/p>\n
The Iranian regime had based its budget for the current Iranian calendar year ending March 20 on oil price of $100 per barrel and exports of about one million barrels per day.<\/p>\n
The sharp dip in the oil price, now at below $50 a barrel, has dramatically worsened the regime’s budget deficit.<\/p>\n
The government of Hassan Rouhani predicts a budget deficit of 9 billion dollars for the remaining months of the fiscal year ending March 20.<\/p>\n
The Chairman of the Management Planning organization, Mohammad Bagher Nobakht, said on Wednesday: \u201cOur prediction is that, by the end of the year, there will be lack of achieving of 9 billion dollars income however we run the country.\u201d<\/p>\n
According to official figures, one third of Iran’s economy is dependent on oil. Moreover, according to experts, more than two-thirds of foreign exchange earnings come from Iranian oil exports.<\/p>\n
Hassan Rouhani presented a budget to lawmakers on Dec. 7 based on $72 oil. Since then, Brent crude has dropped 32 percent.<\/p>\n
According to figures published by the Central Bank of Iran, oil revenues of Iran were $ 119 billion in 2011 and $ 68 billion in 2012. Thus, in one year, Iran’s oil revenues have dropped by almost half. This sudden drop has worsened the economic crisis in Iran and in particular caused a decrease of 6% of economic activity in the country.<\/p>\n
According to official figures published by the Central Bank of Iran, the oil revenue of the country during the last ten years is as follows (amounts in billions of dollars):<\/p>\n
2004: 36.30 billion $
2005: 53.82 billion $
2006: 62.01 billion $
2007: 84.55 billion $
2008: 86.62 billion $
2009: 69.96 billion $
2010: 90.19 billion $
2011: 118.86 billion $
2012: 68.14 billion $
2013: 64.79 billion $<\/p>\n
In 2015, assuming that Iran would export one million bpd and that oil prices would be around $ 40 a barrel, Iran’s oil revenues will be around 15 billion dollars (less than one forth compared the oil revenues of the country in 2013).<\/p>\n
The main reason for the continuation of the economic crisis in Iran is that the clerical regime spends a considerable portion of the country’s income supporting the Syrian regime and supporting the Lebanese Hezbollah and Shiite paramilitary groups controlled by Iran in Iraq.<\/p>\n
According to a recent report, the Iranian regime spends, every month between 1 and 2 billion dollars supporting the dictatorship of Bashar Assad in Syria.<\/p>\n
\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"
As the downward trend in oil prices on the world markets continues, the Iranian regime is lowering the crude price for this year’s budget to $40 a barrel. The government […]<\/p>\n","protected":false},"author":25,"featured_media":42327,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10],"tags":[175],"class_list":{"0":"post-17811","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-updated"},"yoast_head":"\n