Ahmadinejad Group to Probe Global Financial Crisis

Author : Mircea Birca | Tuesday, October 28, 2008
Posted in category Iran, Iran News, Iran Presidency
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A02603097.jpgTEHRAN (FNA)- Iranian President Mahmoud Ahmadinejad has assigned five officials to probe the impact of the global financial crisis on the country.

Ahmadinejad ordered finance minister Shamseddin Hosseini to lead the team which will study the effects of the crisis on Iranian economy and ways “of securing national assets.”

The team will include foreign and commerce ministers, head of the central bank and vice president in charge of planning. It is to report findings after one month.

Iran is concerned over falling oil prices. Oil revenue makes up 80 percent of Iran’s foreign revenue.

Crude prices have dropped below $65 per barrel. International Monetary Fund estimates say that Iran needs prices of around $90 to balance its budget, but the figure has not been confirmed by the Iranian officials.

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