23 November 2014 - 19:21
  • News ID: 229462
Oil-Dependent Economy, a Main Challenge

TEHRAN Nov 23 (Shana)--The head of Iran’s Chamber of Commerce has said that dependence on oil revenues poses a major challenge to Iran’s economy.

Gholam-Hossein Shafei said the administration of President Hassan Rouhani has taken significant steps for weaning Iran’s economy off petrodollars and instead boosting non-oil exports.

He said Iran’s non-oil exports have plunged into stagnation due to heavy oil price fluctuations.

“We have to be careful not to get excited every time oil prices go up,” said Shafei.

He said Iran has been led out of recession due to its strong commercial exchanges. 

News ID 229462

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