Economy, Domestic Economy

Gov’t to Counter Oil Fluctuations

Gov’t to Counter Oil FluctuationsGov’t to Counter Oil Fluctuations

The government is planning to handle oil price fluctuations by managing the allocation of financial resources, Government Spokesman Mohammad Bagher Nobakht said in a news conference after Tuesday’s cabinet meeting. The government is able to run the economy despite the recent sharp drop in oil prices, he said adding that for the next fiscal year, “the government aims to tackle deficit through a mechanism outlined in next year’s budget.” The official also rejected claims the economy may get hurt given falling oil prices.