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FinancialNews
09-08-20
Government lifts 3.6 billion USD by trading stocks
(MENAFN) Head of Iran's planning and Budget Organization (PBO) has stated that contribution shares of nationalized companies have brought the government 160 trillion rials (more than 3.6 billion USD) in the first four months of the present Iranian agenda year (March 20-July 21).
Mohammad-Baqer Nobakht, stated that the mentioned profits came as the government had foreseen only 119 trillion rials (regarding 2.83 billion USD) of capital market profits for the stated four months.
Nobakht stated that in the face of the United States authorizes and the worldwide depression caused by the coronavirus pandemic, Iranian oil exports have refused and oil profits have dropped, so the government is counterbalancing the financial plan shortages throughout other foundations.
Nobakht stated that "Oil sales have dropped dramatically this year so that only six percent of our expected oil revenues have been realized so far,".
MENAFN0908202000450000ID1100606300
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