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[AP] Nasser Karimi - Iranian President Ahmadinejad has acknowledged publicly for the first time that tumbling oil prices are hurting Iran's fragile economy, the official news agency IRNA reported Wednesday. Oil prices have plunged from $147 a barrel in July to under $50, adding to the pain of Iran's rising inflation and unemployment. Ahmadinejad said that will force his government to trim spending and generous subsidies and raise taxes. 2008-12-04 08:00:00Full Article
Iran's President Concedes Falling Oil Prices Hurt Economy
[AP] Nasser Karimi - Iranian President Ahmadinejad has acknowledged publicly for the first time that tumbling oil prices are hurting Iran's fragile economy, the official news agency IRNA reported Wednesday. Oil prices have plunged from $147 a barrel in July to under $50, adding to the pain of Iran's rising inflation and unemployment. Ahmadinejad said that will force his government to trim spending and generous subsidies and raise taxes. 2008-12-04 08:00:00Full Article
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