Iran’s President Rouhani called to deliver budget plans

TEHRAN, Dec. 5 (UPI) — An Iranian legislator said President Hassan Rouhani was called to submit his plans to parliament on next year’s budget following OPEC’s summit in Vienna.

Vice President for Parliamentary Affairs Majid Ansari said Rouhani has been asked to appear before lawmakers during a Sunday session to discuss his economic agenda, the official Islamic Republic News Agency reported Wednesday.

Iran’s economy is struggling to cope with Western sanctions designed to starve Iran of oil revenue it could use to finance a controversial nuclear program, which Iran says is for peaceful purposes. Rouhani vowed to reverse the course set by his predecessors when he took office in August.

Iranian Oil Minister Bijan Zanganeh said this week next year’s budget would be based on oil exports of 1.2 million barrels per day.

“We hope we can raise this figure to 1.5 million barrels per day in the budget,” he was quoted by IRNA as saying Tuesday.

Iran secured some relief from Western economic sanctions in exchange for nuclear concessions during breakthrough multilateral talks in Geneva, Switzerland, last month. Iran says it is ready to re-enter the international oil market in full force if more sanctions are lifted.

Zanganeh touted Iran’s oil potential during a meeting of members of the Organization of Petroleum Exporting Countries this week.

Iran was exporting around 2.5 million barrels per day before Western economic sanctions went into force in 2012. Zanganeh said his country would have “no problem” reaching the 4 million barrel per day mark if sanctions are lifted.

By UPI

 

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