Iran’s Qalibaf Highlights Ending Reliance on Oil Revenues

Iranian Speaker Mohammad Baqer Qalibaf on Wednesday highlighted importance of non-relying on oil incomes, noting that petrodollars as an unreliable source.

Addressing a parliamentary session, Qalibaf said the Iranian administration is going to submit its proposed budget bill for the next Iranian fiscal year (which will begin in March 2021).

What must be taken into account in formulating the national budget is non-reliance on oil incomes, which has been repeatedly stressed by Leader of the Islamic Revolution Imam Sayyed Ali Khamenei, the Iranian speaker was quoted as saying by Tasnim news agency.

The budget’s dependence on petrodollars would be totally damaging and abortive, he said.

The overriding concern is a budget deficit, Qalibaf noted, adding that the Iranian Parliament is pushing for a budget reform with new sources of revenue.