Iranian government’s seven-month oil revenues rose 55%

A glance at the government’s overall revenues for March 21-October 22, 2018, reveals that the income generated through exports of crude and oil byproducts witnessed a 55-percent growth year-on-year.

In this period, Iran earned $17.32 billion through overseas sales of crude and oil byproducts, IRNA reported.

In the same time-span, the government’s total income from other sources stood at $46.12 billion, of which $17.56 billion were earned through taxes and other activities, $17.36 billion through the sales of capital assets and $11.58 billion through selling financial assets.

In the same duration, the government’s tax revenues, per se, stood at over $13.95 billion, indicating a more than 14-percent growth year-on-year.

Under the rubric of selling capital assets, exports of crude and oil byproducts posted the highest year-on-year income growth among other sources of revenue in this period, standing at $17.32 billion. Of this figure, more than $13.72 billion solely pertained to the sales of crude oil — up 68.4 percent compared to the figure for the same period last year.

The sales of financial assets in the seven-month period to October 22, which pertains to funding projects undertaken by the government by issuing securities, earned the government $11.58 billion, which was 42.7 percent higher than the figure for the same period of a year ago.

In the same seven-month period, the government’s current expenditure stood at $34.88 billion showing a 20.8-percent rise year-on-year.

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