IRNA � Spokesman for the Iran's government forecast a bright future for the country's economy in the new Iranian calendar year, starting on March 21.

Over 126 trillion tomans (about 34 billion dollars) have been allocated to the development projects in the country, Mohammad Baqer Nobakht said at a local meeting here on Saturday.

Referring to the oil price which is over 60 dollars per barrel at present, Nobakht said Iran predicts better future for the country's economy as the figure has already been 40 dollars.

Iran is among the world's top rich countries in terms on oil and gas reserves.