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Iran sees oil income up $2 bln in year from March

TEHRAN, Jan 27 (Reuters) - Strong crude prices are likely to boost Iran 's oil income by more than $2 billion during the budget year beginning in March, a senior Iranian official said on Thursday.

Mohammad Ali Najafi, head of the state Plan and Budget Organisation, said revenue from oil exports were expected to be more than $2 billion higher than a forecast minimum of $11.2 billion for the next Iranian year which starts on March 20, the official news agency IRNA reported.

There are no official forecasts for Iran 's oil income in the upcoming year as the annual budget and a five-year economic plan which starts next year have not received final approval yet.

Officials have said they had used a conservative average price of $13.8 per barrel of oil in next year's budget, even though they expected Iranian crude exports to fetch about $18 per barrel.

Iran , a major oil exporter, relies on petrodollars for about 80 percent of its hard currency income.


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