“This year is the first year that 40 percent of the oil revenue will go to the National Development Fund, while in previous years only 20 percent [of the revenues] were deposited into the development fund,” Masoud Mirkazemi said.

In late October, Tasnim news agency reported that Iran’s oil revenues increased by eight times in the first five months of the current Iranian calendar year (March 21-August 22) with respect to the same period of the previous year.

Citing official data, the agency reported that the Islamic Republic’s oil revenues also increased by 11 times in the previous year.

The mentioned data showed that the Gini coefficient, as a measure of income distribution and equality, reached 0.39 percent in the previous year with a slight improvement, and it is expected to improve further this year.

Also, general government revenues have grown by 66.5 percent in the first five months of the current year compared to the same period of the previous year.

Iran has been ramping up its oil production and exports over the past year as the country has been implementing new strategies to overcome U.S. sanctions.

The Islamic Republic’s oil export in Q1 2022 increased significantly so that it registered the fastest growth rate among all producers in West Asia. This year, the volume of Iranian crude export reached its highest since former U.S. President Donald Trump withdrew from the so-called Iranian nuclear deal in 2018.

Back in September, Iran’s First Vice President Mohammad Mokhber said that the country is currently selling its oil in global markets and getting paid for it without any problems.

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Karbasian made the remarks on the sidelines of the Government-Private Sector Negotiation Council’s meeting, where ICCIMA Head Gholam-Hossein Shafeie was also present.

Combating unemployment govt.’s top priority

Karbasian, elsewhere, underlined that uprooting unemployment in the society stands among top priorities of the government.

All the ministers are called on to eradicate unemployment and create jobs in the country, he said.

According to him, the Finance Ministry’s mission for the next four years is removing the obstacles on the way of protecting domestic production and employment of Iranian workforce.

Productivity, financing next priorities

Increasing productivity and supplying the financial resource of the capital market are the other issues that government has on its agenda, the finance minister said.

The government will use banking resources to create cash flow, simultaneously will make some amendments in the country’s banking system; therefore, a proper bed will be set for privatization of production units.

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