Iran expects no budget deficit despite oil slide

TEHRAN Nov 2 (Shana)–Iran’s economy minister has said that the country would face no budgetary shortfall despite a sharp fall in the oil prices.
“We will face no budget deficit stemming from oil price slump,” Ali Tayyebnia said.
 
“If oil prices keep falling, the government will definitely make plans to head off a budget deficit problem next [calendar] year,” he said.
 
The minister said Iran will dip into the National Development Fund of Iran (NDFI) to make up for any possible shortcomings.
 
He added that the fund was established to blunt the impact of oil price fluctuations.  

By SHANA

 

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