The Iranian government has lost two thirds of its funding, according to statements from the head of the Islamic Republic’s Planning and Budget Organization (PBO) that were quickly removed from official websites.
Mohammad Bagher Nobakht painted the dire fiscal picture December 4 while speaking at a gathering of representatives of disabled people assembled at the PBO to protest cuts to government funds allocated to support them.
The budget shortfalls are largely due to losses in oil revenue as a result of re-imposed sanctions slapped on Iran after the U.S. withdrew from the nuclear deal in May. The Research Center of Iran’s parliament has predicted that Washington’s decision to reimpose sanctions will lower Iran’s oil exports by 500,000 to one million BPD.
Meanwhile, Rouhani's first deputy, Eshaq Jahangiri, reports that revenues from petroleum sales in the next fiscal year, which begins March 21 in Iran, will be 25 percent lower than this year. That can be an optimistic forecast, especially with lower oil prices.
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