Iran Lowers Reliance on Oil Revenues in 2019-20 Annual Budget Bill

The Plan and Budget Organization of Iran submitted the government's budget bill for the next fiscal (March 2019-20) to the parliament in time on Thursday (known as Budget Day).
The timely submission comes as Majlis is in recess until Dec. 16, so discussions on the nitty-gritty of the bill will have to wait till then, Fars News Agency reported. 
Hamid Reza Pourmohammadi, the deputy head of Plan and Budget Organization, said the government has taken into account restrictions on utilizing its budgetary resources in drawing up the bill, given the US sanctions against Iran. 

“The government has focused special attention on policies designed to improve Iranian people’s livelihood and healthcare, protect producers and create youth employment,” Pourmohammadi said.

"To counter US sanctions and limits on petroleum sales, PBO has decided to reduce next year’s budget reliance on oil revenues to 27% and set average oil prices at $54 a barrel, with an estimated sale of 1.5 million barrels per day," he added.