Iran puts new winning price on its oil barrels

Iran puts new winning price on its oil barrels
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Published December 2nd, 2013 - 15:22 GMT via SyndiGate.info

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The Iranian administration has set oil price to $100 per barrel in the next year’s national budget bill, IRNA quoted Iranian MP Ja’far Qaderi as saying on Sunday.
The Iranian administration has set oil price to $100 per barrel in the next year’s national budget bill, IRNA quoted Iranian MP Ja’far Qaderi as saying on Sunday.
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The Iranian administration has set oil price to $100 per barrel in the next year’s national budget bill, IRNA quoted Iranian MP Ja’far Qaderi as saying on Sunday.
 
The next Iranian calendar year begins on March 21, 2014.
 
The U.S. dollar exchange rate has also been set to 26,000 rial, he said, adding that the general budget has envisaged to hit 1,900 trillion rials (about $76.3 billion based on the U.S. official exchange rate of 24,900 rials), he added.
 
The government revenues have forecasted to reach 800 trillion rials (about $32.1 billion), he said. Moreover, customs and tax income are projected to hit 640 trillion rials (about $25.7 billion).
 
On November 30, the Tasnim News Agency quoted Iranian presidential deputy for planning Mohammad-Baqer Nobakht as saying that the Iranian administration will submit the budget bill for the next Iranian calendar year to the parliament in the next two days.
 
The U.S. dollar exchange rate will be fixed in the budget bill. Moreover, the budget bill has envisaged that the second phase of the subsidy reform plan will be implemented in the next year, he added.
 
On November 18, President Hassan Rouhani's chief of staff, Mohammad Nahavandian, said the administration is not going to cut the cash subsidies of rich families. 
 
The subsidy reform plan pays 45,500 rials (about $18 based on the U.S. dollar official exchange rate of 24,800 rials) to Iranians, eliminating subsidies for fuels and some commodities.

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