Iran’s Interim Budget to offset western economic terrorism efforts
Iran’s Interim Budget to offset western economic terrorism efforts
– By DR. ABDUL RUFF
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Iran’s parliament debates President Mahmoud Ahmadinejad’s full-year spending proposals and has passed a three-month stop-gap budget in the wake of western economic sanctions badly affecting revenue flow from oil export. Western sanctions over its disputed nuclear program have cut oil exports by more than half over the past year, sharply reducing Iran’s income.
The International Energy Agency, which advises rich countries, estimated last week that Iran’s oil exports may have dropped below 1 million barrels per day in January, from 2.2 million bpd in late 2011.
The temporary “three-twelfths” budget authorizes spending of 450,000 billion rials total for the first quarter of the year. That is roughly equivalent to a single month’s spending in rial terms in last year’s budget, or $13 billion at the current open market exchange rate.
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oliverichardson 
thanks