Iran's oil revenue tops projected budget

LONDON, September 15 (IranMania) - Iran's oil income hit dazzling amount of 120,918 billion rials in first five months of the fiscal year (March 21 to August 22, 2005) compared to projected 55,956 billion rials revenue from crude oil exports within the same period.

This is 30% increase from 93,157 billion rials crude oil export in the same period last year. However, the Ministry of Economic Affairs and Finance, while emphasizing on allocating the oil money for improving economic infrastructure and production, insists that the allocated budget should come from taxation and non-oil revenues within the 4th and 5th socio-economic and cultural development plans.

An informed source in the ministry also stated that the government is expecting to earn $14,128b this fiscal year (Iranian year falling between March 21, 2005 and March 20, 2006) from crude oil exports, an amount that is going to be realized within months.