“The government’s proposal for setting the budget bill based on 100-dollar oil is defendable,” Zanganeh told a parliamentary ad hoc committee tasked with reviewing the budget bill for next calendar year starting in March.

He said that crude oil and condensate exports envisaged in the draft budget are realizable and based on facts.

The parliamentary committee has endorsed the bill with 39 votes in favor and 5 against.  

President Hassan Rouhani recently submitted the budget bill for next calendar year to parliament, saying increased petrodollars and higher tax revenues are focused upon in the draft.

He said the government’s general budget will exceed 1,950 trillion rials, 50 percent higher than last year.