“The government is depositing 20% of oil revenues into NDFI this year. We had differences in this regard, but we finally reached agreement,” Hamid-Reza Fouladgar said.
He said that this decision was taken because of oil price falls, adding: “In the years, the government’s revenues fall abruptly, the same 20% will be deposited into NDFI, but when the sales are higher or when oil prices climb the extra revenues will go into NDFI.”
Iran is trying to wean its economy off oil revenues in a bid to blunt the impact of oil price fluctuations on its annual budget.
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