Iran’s budget for the fiscal year 2015 is based on the oil price of $80.00 per barrel, Golem Reza Tajgardun, chief of the Iranian Mejlis Commission for Planning and Budget, said in his interview to IRNA agency.
According to the Deputy’s forecast, the oil price decline will continue. We will be able to return to previous price, but not in the near future.
A sharp reduction of oil prices at the world markets forced the countries-exporters to base their budgets for the next fiscal year on the oil price between $60.00 and $80.00 per barrel, added Tajgardun.
Parliamentarian added if the forecast does not prove to be true and the price goes up to $100 per barrel, then Iran will transfer excess of funds from extra profit to the National Development Fund.
He added that Iran takes active diplomatic steps to find an agreement with the OPEC member-states and other big players at the oil market to reduce production and export of oil to stop further reduction of price.
