A leading Iranian official has said that Iran should consider the low oil price as an opportunity.
Majlis Mohammad-Hassan Abutorabifard, conservative first deputy speaker of the Parliament of Iran, said that the current downward trend in the price of crude oil is a “golden opportunity” for Iran’s economy not a threat, according to the Islamic Republic News Agency.
Speaking at a conference he said, “A country which was run by $100 oil price per barrel is now managed by $30 oil and since there has been no meaningful difference in the country’s management style, it can be concluded that by the reduction of oil dependency, the trend can continue.”
“The lesson to be learned for the country’s economy is that if in future the price of oil soars again to $100 per barrel, we can transfer 70% of the revenues to the National Development Fund,” he said.
He also expressed disappointment over high consumption of gas during winter in Iran saying it is harming the national economy, the report added.
