Financial Tribune - Iran�s 4,480-trillion-rial ($37.64 billion) budget for the current fiscal year (March 2019-20) is based on the sale of 300,000 barrels of oil per day, the deputy head of Plan and Budget Organization said.

Hamid Pourmohammadi added that by adopting a number of budget reforms, the government has paved the way for reducing reliance on oil revenues.

Last year�s (fiscal 2018-19) budget was based on the sale of 1.5 million barrels and that of fiscal 2017-18 forecast selling 2.68 million barrels of oil per day, the official was quoted as saying by Mehr News Agency.

�The Islamic Republic rose to the occasion against US sanctions and reduced national costs and boosted revenues. By introducing structural reforms, budget dependency on petrodollars has nearly lowered to zero,� he said.

One would consider the impact of sanctions on Iran's ability to sell oil as a blessing in disguise, as it has prompted Iran to figure out a way to finance its affairs without oil revenues.