Iranian Culture Minister Ali Jannati says the administration has not spent any money on development projects in the past three months, and in view of its strained budget, he predicted harder times for the government for the rest of the year.

Ali Jannati

Ali Jannati

ILNA reports that at the second national meeting of Ministry of Culture Directors on Monday August 10, Jannati said the treasury revenues in the first three months of the Iranian calendar year (starting on March 21) could not sustain spending on any development projects and would only cover current wages and expenses.

He went on to add that falling oil prices have seriously limited the government’s financial possibilities. He said all ministerial trips will be cancelled except for urgent ones to reduce expenses.

He expressed optimism regarding the country’s economic future in view of the nuclear agreement and the elimination of international sanctions on Iran.