Iran will manage even if oil drops $25 p/b: minister
Iran will run its affairs even if oil prices fall to $25, minister of economy has said, IRNA reported.
"Even if oil drops to $25 we will again run the budget properly," Ali Tayebnia said in a Shana report Tuesday.
"Under the circumstances where we cannot express ourselves about the price of oil next [calendar] year, the most logical behavior would be for the government to prepare itself for all options," the minister said.
He said the government is preparing itself to deal with any oil price.
The minister said the government will see its revenues fall by IRR 25,000 billion if oil price falls to $40.
In its budget bill for next calendar year starting on March 21, the Iranian government has sought to reduce dependence on petrodollars.
Earlier this wee, Tayebnia said the government has envisaged three "optimistic, pessimistic and middle' scenarios with regards to the oil prices in next year's budget. He noted that out of the three existing scenarios one will be selected according to oil price fluctuations.
The minister dismissed reports on lowering oil prices to $40 per barrel in the next year budget.