Declining oil price is a golden opportunity: Vice speaker

TEHRAN, Jan. 6 (Shana) – Majlis Vice-Speaker Mohammad-Hassan Abutorabifard said on Wednesday that the current downward trend in the price of crude oil is a golden opportunity for Iran’s economy not a threat.

Speaking at a conference on resistive economy here he said, “A country which was run by 100-dollar oil price per barrel is now managed by 30-dollar 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 dollars per barrel, we can transfer 70 percent 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.