Iran’s oil and gas revenue is projected to rise in real terms by 37% to $33bn in the 2017-18 draft budget from $25bn in the current year, President Hassan Rohani announced this week in his budget statement to parliament. The surge in revenue is due to a combination of rising oil exports following the lifting of sanctions in January and higher prices. But geopolitical uncertainty remains a major risk to revenue projections, while efforts to diversify the economy and reduce expenditure...