In Brief: Iran revenue from oil, gas sales tops $120 billion

Iran Focus: Tehran, Iran, Dec. 10 – Iran’s annual revenue from oil and gas sales has reached 120 billion dollars, state television reported on Saturday. Iran Focus

Tehran, Iran, Dec. 10 – Iran’s annual revenue from oil and gas sales has reached 120 billion dollars, state television reported on Saturday.

The report, which quoted the head of the Majlis (Parliament) Energy Committee, said that $45 billion from the income was being allocated for government subsidising of goods, in particular gas.

Iran’s hard-line cabinet has faced strong criticism by many economists who say the sharp rise in government spending, financed by the country’s burgeoning oil revenues, is fuelling inflation; thus, leading to more poverty.

Despite Iran’s huge oil revenues, poverty and homelessness are ubiquitous features of the Iranian metropolis, with thousands of homeless persons spending the night in the bitter cold without any shelter. Iran’s state-run media call the homeless “kartonkhabha”, literally meaning those who sleep on cardboards.