TEHRAN – Latest budgetary performance review report published by Iranian Planning and Budget Organization (PBO) shows that government revenues have increased by 63 percent in the first four months of the current Iranian calendar year (March 21-July 22) as compared to the same period last year.

Based on the mentioned report, the country’s oil revenues have grown 481 percent in the mentioned four months, year on year, Tasnim news agency reported on Wednesday.

As reported, reviewing the government’s budgetary performance in the said four months indicates the improvement of macroeconomic indicators. The data released by the PBO shows that by relying on stable incomes, the government has been able to make the country's incomes and expenditures more coherent.

Also in the said period, the privatization of capital assets has grown by 470 percent, while the handover of the government’s movable and immovable properties has also increased by 104 percent compared to the same period last year.

Back in June, PBO Head Massoud Mirkazemi announced that selling oil has become better than before.

“Oil prices and exports have increased and selling oil has become better,” Mirkazemi said.

Earlier in April, the Wall Street Journal reported that Iran has been boosting oil exports in the current year as major oil buyers like China are cutting back imports from Russia due to the war with Ukraine.

Based on the report, Iranian oil exports increased by 30 percent in the first quarter of 2022 compared to the previous year, to reach 870,000 bpd.

The jump in Iran’s oil exports in Q1 was the fastest among all producers in West Asia, while the volume of exports is estimated to be the highest since former U.S. President Donald Trump withdrew from the so-called Iranian nuclear deal in 2018, the report said.

EF/MA