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Iran’s budget banking on US lifting sanctions

The projected reliance on oil revenues is wildly optimistic, likely making the budget a wish list, at best.
Taxis line up to pick up customers at a taxi station in the Iranian capital Tehran on July 3, 2019. - The Iranian economy is struggling in part because of the crippling US sanctions targeting Iran's oil sales, banking transactions and major industries like steel and petrochemicals. (Photo by ATTA KENARE / AFP)        (Photo credit should read ATTA KENARE/AFP via Getty Images)

As Iran's legislature is debating the budget for the coming Iranian year, questions remain about the feasibilty of the proposed figures and its heavy reliance on oil revenues.

The budget bill for the next Iranian year that starts March 21 was submitted to the parliament Dec. 8 with the headline numbers having massively ballooned compared to the current year's Budget Law.

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