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Oil Dependence Augurs Bad for Iran Economy

Source: www.gulfoilandgas.com 10/24/2014, Location: Asia

Iran’s Supreme Leader Ayatollah Ali Khamenei has said that dependence on petrodollars augurs bad for the country’s economy.

Ayatollah Khamenei said economic dependence on oil revenues would “hand over Iran’s economy to the world macro-policy makers.”

Referring to oil price fluctuations, the leader said: “It is clear what future waits a country planning for its economy in this way.”

“Instead of relying on fluctuating oil revenues, Iran should depend on its human resources, i.e. the talent and intelligence of youth, production of science and knowledge. In that case, no power in the world will be able to play with the country’s economy,” said Ayatollah Khamenei.

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