Iran can benefit from US sanctions: former deputy minister
Tehran, Iran, Oct.20
Iranian government could increase revenue by increasing tax revenues and reducing smuggling, and provide an outflow of oil from the budget, the Former Deputy Economy and Finance Minister, Heydar Mostakhdemin Hosseini told Trend.
Citing to the role of the government in reducing the impact of economic sanctions, Haydar Mostakhdemin Hosseini said it is illogical to think that sanctions have no effect on Iran’s economy.
“We have to admit that the sanctions have an impact on any country, but sanctions can create opportunities as well,” he said. “It's been nearly four decades that we are trying to implement an economic policy without oil, but it has not been seriously implemented yet. In this regard, the parliament can carry out the reformation of its budget structure in order to minimize the role of oil in the budget.”
The former deputy minister of economics added that the government and parliament could expand tax bases or by preventing smuggling of goods, which, according to official figures, would be $ 15 to $ 25 billion, to increase revenue sources of country by removing oil from the budget. It’s a revolutionary decision, he added.
“While oil revenues should be spent on infrastructure activities, we have problems and shortcomings in the transportation sector or education sector today, which should be spent on them,” he said.
“Unfortunately, the government has not taken a step in this direction and has even exacerbated problems such as fluctuations in FOREX market and coins.”