$70 oil price not to affect economy: Expert

Tehran, Jan 3, IRNA – An economic expert said that setting 70 dollars as the oil price in next year’s budget bill will have no negative effects on Iran’s economy as all calculations have been made based on reasonable elements. Commenting on certain claims that changes in oil price could cause serious problems for national economy next year, Mohsen Kouhkan said those claims are not true as they have been made based on “unmeasured” speculations. Oil price fluctuations could only have negative effects on the country’s economy next year if the oil price was estimated on an unrealistic basis in the coming year’s budget bill, Kouhkan, a former member of the Iranian Parliament (Majlis) told IRNA. He added that it is not so difficult to speculate the oil price for next year since world’s oil market is run based on certain elements, most importantly the supply and demand concept. “Iranian experts have anticipated next year’s oil price based on reasonable assumptions considering the mounting demand for oil, certain amount of its supply and security of the national oil fields and resources,” Kouhkan noted. He also said that the government of President Hassan Rouhani would find a solution for any possible problem should the present speculations do not come true. /end