Iran's Oil Export Income Reliance Fell To 30% - First Vice-President

Faizan Hashmi Published May 14, 2019 | 07:58 PM

Iran's dependence on oil export income has dropped to below 30 percent, from previously comprising 80 to 90 percent of government revenues, Iranian First Vice-President Eshaq Jahangiri said on Tuesday

MOSCOW (UrduPoint News / Sputnik - 14th May, 2019) Iran's dependence on oil export income has dropped to below 30 percent, from previously comprising 80 to 90 percent of government revenues, Iranian First Vice-President Eshaq Jahangiri said on Tuesday.

"Reliance on oil income presently is below 30 percent i.e.

in case of saving via reducing expenditures, the planned financial resources in the budget can be consumed on development targets," Jahangiri said, as quoted by Iranian Mehr news Agency.

During the past few years, Iran has been aiming to reduce its reliance on its oil exports, in the face of tightening sanctions from the United States, which were reimposed in November after US President Donald Trump pulled out of the 2015 Iran nuclear agreement.