Ahmadinejad: Iran's economy will survive $5 oil.

[ben_meyers]

Ahmadinejad: Iran's economy will survive falling oil prices

Iranian President Mahmoud Ahmadinejad said Sunday that Iran's economy will survive falling oil prices.

Iranian state television quoted Ahmadinejad as saying the plummeting price of oil will not cause any remarkable problems to the economy.

He added in his remarks that the economy was self-reliant, and would be fine with an oil price of $5 per barrel.

International financial institutions estimate Iran needs oil at $90 a barrel to balance its budget and in October Iran said under-$100 a barrel oil would be unsuitable.

http://www.haaretz.com/hasen/spages/1040156.html

So there you go, no problem.