Aktual mövzular: Dollar alış-satışı , Hava haqqında, Qarabağ, Qəbələ, Məzənnə, Neftin qiyməti

Iran should narrow expenditure, cash subsidies amid falling oil prices

Iran should narrow expenditure, cash subsidies amid falling oil prices

Total and CNPC set to sign Iranian gas deal (08 November 2016 11:46)

Date: 15 January 2016 14:42

Tehran, Iran, Jan. 13

By Mehdi Sepahvand – Trend:

The Iranian government has two ways to meet the falling oil prices – narrow expenditure and reduce cash subsidies, Iranian MP Ebrahim Neku said.

OPEC oil basket price plunged to $25.76 on Jan. 12, about $1.31 less than the previous day.

As Iran’s economy is heavily reliant on oil, in such situations the government needs to seek other sources of income, Neku told Trend January 13.

OPEC oil basket price was about $108 in first half of 2014, but has been decreasing due to glut in the markets. The current figure is the lowest price since early 2014.

Iran’s case has been especially bad under international sanctions, which forced the country to cut its output from over two million barrels a day to one million.

The MP stated that the Iranian government has to have the least expenditure to save money for vital corners.

He added that cash subsidies are overwhelming the country’s economy at large and need to be narrowed down to only really needy people.

The cash subsidies were initiated by former president Mahmoud Ahmadinejad by giving each Iranian what is now worth $12 per month.

Stay up to date with latest Iran news on our specialized Facebook page

Follow us on Twitter @TRENDNewsAgency


Tags:  Iran should narrow expenditure cash subsidies amid falling oil prices


RƏYLƏR


Top news