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Economy minister: Gov’t has plans to deal with falling oil prices to $30

Home »  News »  Economy minister: Gov’t has plans to deal with falling oil prices to $30

Minister of Economy Ali Tayyebnia said on Tuesday that the government has plans to deal with plummeting oil prices to even $30.

Referring to what he called an economic war on the country, Tayyebnia said, ‘This economic war is even tougher than the imposed war (1980-88 Iraqi imposed war on Iran).’
Despite the existence of anti-Iran sanctions, the government managed not only to rein in soaring inflation, but also kept the economic growth rate positive over all the four seasons of the past year, Tayyebnia said.
The minister noted that in order to fight with ‘this full-scale economic war’ Iran has to make use of all its capacities.
Iran’s oil revenues in 2011 were as much as $120 billion which have reduced to $20 billion this year, Tayyebnia said.
Underlining the need to implement the policies of Resistance Economy urged by Supreme Leader Ayatollah Ali Khamenei, the minister said that with completion of the country’s comprehensive taxing plan, Iran can slash reliance on oil revenues.

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