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→Economy: Spelling, grammar, and general cleanup, typos fixed: 2007-2008 → 2007–2008
Increases in the price of oil starting in 2003 have increased state revenue enormously and permitted a much larger degree of spending on social programs than previously anticipated. However, this has not eased economic hardships such as high unemployment and inflation. The proportion of the economy devoted to the development of weapons of mass destruction and military spending overall remains a contentious issue with leading Western nations.
Increases in the price of oil starting in 2003 have increased state revenue enormously and permitted a much larger degree of spending on social programs than previously anticipated. However, this has not eased economic hardships such as high unemployment and inflation. The proportion of the economy devoted to the development of weapons of mass destruction and military spending overall remains a contentious issue with leading Western nations.
Earnings from Iranian oil exports, projected at $57-$87 billion for 2007-2008, are placed into the Oil Stabilization Fund (OSF), originally designed as a Treasury safety net if oil prices dropped below $20/barrel. In practice, the government has drawn upon the OSF to cover over expenditures. Iran relies on oil for 80% of its export revenue, and 40% of total revenues. (Note: Iran's refining capacity is limited, and Tehran is a net gasoline importer, spending $2.6 billion for foreign gas in 2005.)
Earnings from Iranian oil exports, projected at $57-$87 billion for 2007–2008, are placed into the Oil Stabilization Fund (OSF), originally designed as a Treasury safety net if oil prices dropped below $20/barrel. In practice, the government has drawn upon the OSF to cover over expenditures. Iran relies on oil for 80% of its export revenue, and 40% of total revenues. (Note: Iran's refining capacity is limited, and Tehran is a net gasoline importer, spending $2.6 billion for foreign gas in 2005.)
*GDP (purchasing power parity, 2006 est.): $599.2 billion.
*GDP (purchasing power parity, 2006 est.): $599.2 billion.
*GDP (official exchange rate, 2006 est.): $193.5 billion.
*GDP (official exchange rate, 2006 est.): $193.5 billion.