Pre-designed oil plot ineffective

Head of Iran’s Management and Planning Organization (MPO) Mohammadbagher Noubakht

TEHRAN Feb 10(Shana)–“We have been able to offset the effects of falling oil prices as a pre-designed plot by our enemies through coherent and expert planning,” head of Management and Planning Organization (MPO) Mohammadbagher Noubakht said.

Noubakht said, “We have filled the vacuum of falling oil prices through taking new initiatives in drafting next year budget.”

He continued: “The Supreme Leader’s statements are very crucial for the administration and the government will follow the leader’s directions regarding nuclear negotiations.”

Meanwhile a member of integrated commission of Parliament said next year’s budget bill has been arranged in a way that oil price fluctuations will not be able to destabilize revenues.

In an interview with IRIB’s channel 2, Dastgheib said with regard to uncertainty about realization of oil revenues and special economic circumstances of the country, “we have considered two ceiling for budget revenues in next year’s public budget which relief our worries about not realization of anticipated revenues.”

Elsewhere in his remarks he said next year budget is less dependent on oil revenues in comparison with last year budget.

While this year’s budget was dependent on oil revenues by 39.3 percent, next year budget relies on oil revenues by 36.3 percent, equivalent to 530 trillion IR rials which is less than 710 trillion rials had been proposed in next year’s budget draft, according to the legislator.

He said based on our calculations, even if oil prices edge down to 40 dollars per barrel, it will not negatively impact earnings of next year’s budget.

Iran’s parliament will start deliberations on budget bill next week during its public sessions.

By SHANA