TEHRAN – Given the current political situation in Iran and in the region, the next year budget should be balanced in a way to be able to meet special conditions, noted former deputy minister of economy.

Considering the issue of reporting Iran’s nuclear dossier to the Security Council a political move, Mohsen Safaii Farahani said, the economic embargos might start after March however, in light of the political situation prevailing in the region, certain banking activities and investment measures would possibly face difficulties, the Persian service of Iran’s Labor News Agency (ILNA) quoted him as saying. He also added that, the developments might lead to an increase in the rate of investment risk in Iran.

Referring to the use of oil as a tool to fight against the possible sanctions imposed by the Security Council, he considered Iran’s quota of OPEC (Organization of Petroleum Exporting Countries) as insignificant and said that the move would be effective only in the short term.

He also noted that in light of the consolidation - of the political powers - in the IAEA (International Atomic Energy Agency) Board of the Governors, the OPEC member countries may by raising their outputs compensate for the shortages resulting from Iran’s lower production.

He maintained that appropriate policy makings within the borders could reduce the impacts of the possible sanctions.