Vice Speaker Stresses Oil-Free Economy

TEHRAN (Tasnim) – Vice speaker of the Iranian parliament emphasized the need for ending the country’s reliance on oil revenues, saying a strong economy would not materialize unless the oil stops playing the key role in the country’s budget.

Vice Speaker Stresses Oil-Free Economy

“Cutting the link between the country’s expenditures and oil revenues will result in an about-face in Iran's economic situation and help it achieve a dynamic and efficient economy,” Mohammad Hassan Aboutorabifard said in an open session of parliament on Tuesday.

He also explained that a major portion of the economic woes stems from Iran’s dependence on oil revenues, lack of careful management of economy, as well as illogical increase in the country’s running costs.

Also on October 21, Reza Rahmani, chairman of the parliament’s industries and mines commission, emphasized the necessity for a surge in export of non-oil products, saying the country’s dependence on oil revenues is detrimental to the economy.

“The country should pay special attention to other economic tools to generate revenue and increase export of non-oil products,” Rahmani said at the time.

He had also noted that the issue of non-oil products has been always among “the basic principles of the Islamic Revolution,” but added that a lot of work is still to be done to wean the country off oil revenues.

A report published by Islamic Republic of Iran Customs Administration (IRICA) on October 12 showed during the first six months of the current Iranian year (1392 – March 21 to September 21, 2013) Iran exported 3,265 different types of non-oil goods and products.

According to the latest data released by the Iranian Customs Administration, Iran exported $17.972 billion of non-oil commodities, including gas condensates, during the six-month period.

The country also imported $19.935 billion worth of goods in the first six months of the current Iranian calendar year.

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