“[Iran’s] $118-billion revenue from selling oil has fallen to $24 billion,” Mohammad-Baqer Nobakht said.
He added that “we should run the country” with this amount of petrodollars “while many half-complete projects” have been abandoned.
“The country’s petrodollars have declined, but we will run the country even with this revenue,” he said.
Nobakht said Iran’s economic growth has reached 3%, adding that the economy had shrunk under the government of former president Mahmoud Ahmadinejad.
International sanctions, which were imposed on Iran’s oil sector in 2012, and a record fall in oil prices have eaten away at Iran’s oil revenues in recent years.
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