In 2006, about 45% of the government's budget came from oil and natural gas revenues, and 31% came from taxes and fees. As of 2007[update], Iran had earned $70 billion in foreign exchange reserves mostly (80%) from crude oil exports. Iranian budget deficits have been a chronic problem, mostly due to large-scale state subsidies, that include foodstuffs and especially gasoline, totaling more than $84 billion in 2008 for the energy sector alone. In 2010, the economic reform plan was approved by parliament to cut subsidies gradually and replace them with targeted social assistance. The objective is to move towards free market prices in a 5-year period and increase productivity and social justice. COUNT 5
QSN1 By 2007, Iran's crude oil exports resulted in how much of its foreign exchange currency? ANS1 $70 billion QSN2 What is a main cause of Iran's constant budget deficits? ANS2 large-scale state subsidies QSN3 What year did Iran pass an economic reform plan that would replace subsidies with targeted social assistance programs? ANS3 2010 QSN4 In 2008, how much was Iran's state subsidy in its energy sector? ANS4 more than $84 billion QSN5 How much of Iran's budget came from oil and natural gas reserves in 2006? ANS5 about 45%