Oil-dependent economy, Main challenge

TEHRAN April 13(Shana)–President Hassan Rouhani has said that Iran would never be able to overcome its economic challenges should the issue of dependence on oil revenues not be resolved.

Addressing a joint meeting of Cabinet and parliament, the president said the last fiscal year which ended on March 20 was a tough year.
“We started [last year] with an oil barrel above $100 and ended [the year] with around $50 a barrel,” he said.
“This year, we have started our work with $50 oil and we have no idea which conditions would prevail over the oil market up to the end of the year,” added Rouhani.
The president said that international sanctions are barring attraction of investment and transfer of technology.
Rouhani said that his administration is determined to reach a “win-win” agreement with six world powers over Iran’s nuclear program.