Government uses oil revenues for investment: Spokesman

Iran’s 13th administration has given top priority to using oil revenues for making investment in different sectors instead of meeting executive expenses, said the government spokesman.

RoydadNaft – Iran’s 13th administration has given top priority to using oil revenues for making investment in different sectors instead of meeting executive expenses, said the government spokesman.

Addressing a meeting of university lecturers and elites in South Khorasan Province, eastern Iran, on Saturday night, Ali Bahadori Jahromi added the government has made considerable investment in refineries, economic drivers of the oil sector, electricity generation capacity development plans, and transit system projects.

Pointing to construction and inauguration of refineries, the official said the investments helped increase the average economic growth to over 4.5 percent over the past two years from nearly zero after a decade.

The government has paid due heed to both infrastructure and investment, which would gradually have positive effects on economic growth.