Bojnourd, Aug 28, IRNA – Vice President and Head of Planning and Budget Organization Mohammad Baqer Nobakht underlined that the nuclear agreement with the West paved the way for boosting the crude oil sale by 100 percent.


“Multiplying the oil sale by two times to over two million barrels is one of the achievements of the Joint Comprehensive Plan of Action (JCPOA) and if it hadn’t been materialized the government employees would not have been able to receive their salaries,” Nobakht said on Saturday night, addressing a meeting with the economic activists and elites in Northern Khorasan province.

He noted that the big powers were planning to restrict Iran’s oil sale to food-for-oil program and if it had happened Iran not only could not control or reduce the inflation rate, but also the country would have faced unprecedented crises.

Nobakht pointed to the reduction of foreign exchange revenues and the financial problems of receiving the cash for the sale of oil from foreign countries, and underlined that the fall in the oil prices in recent years was to such extent that it created crises for the bid oil powers such as Saudi Arabia and Qatar as they even faced multi-billion-dollar budget deficits.

By IRNA