“With regard to uncertainty about realization of oil revenues and special economic circumstances of the country, we have considered two ceiling for budget revenues in next year’s public budget which relief our worries about not realization of anticipated revenues”, he said.

While this year’s budget was dependent on oil revenues by 39.3 percent, next year budget relies on oil revenues by 36.3 percent, equivalent to 530 trillion IR rials which is less than 710 trillion rials had been proposed in next year’s budget draft, according to the legislator.

He said based on our calculations, even if oil prices edges down to 40 dollars per barrel, it will not negatively impact on earnings of next year’s budget.

According to Dastgheib, budget bill has authorized Petroleum Ministry to offer bonds worth 5 trillion rials for development of shared oil fields next year because falling oil prices have reduced the share of oil industry from budget revenues.