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Iranian government managing country with less than $24B petrodollars

Oil&Gas Materials 28 August 2015 16:00 (UTC +04:00)

Baku, Azerbaijan, Aug. 28

By Khalid Kazimov -- Trend:

Harsh circumstances prevail and the government is handling the country with less than $24 billion of petrodollars, Iranian government spokesman Mohammad Baqer Nobakht said.

Iran's current oil production stands at about 2.7 million barrels per day.

Oil Minister Bijan Zanganeh recently said Iran's oil revenue in the worst situations will remain as it is, while the countries which have recently boosted their oil output will suffer billions of dollars.

The government's real achievement is that it has reduced the inflation rate from over 40 percent to 14 percent, he added, speaking on the occasion of the Government Week in Iran Fars news agency reported August 28.

He said the government is trying to improve Iran's economic growth to 8 percent.

"With an economic growth of 3 percent, the government would have to create 800 thousand job opportunities for people entering the job market. We have created 700 thousand job positions and we need still to create 100 thousand more," Nobakht stated.

The number of jobless people now looking for work opportunities in Iran is 2.6 million. Statistics reveal that one to 1.5 million of jobless Iranians are university graduates. Reportedly some 40 percent of Iranian university graduates are jobless.

In order for the country to attain a single-digit inflation rate, some 800,000-900,000 jobs should be created.

This year the government employed 38 thousand people despite the fact that paying salaries weighs very heavy on the government, he added.

The Iranian government has something between 8000 thousand and 1630 thousand billion rials (each 2990 rials making 1 USD) and the government has to spend with care in order to attain the target economic growth of eight percent, he said.

Iran's GDP decreased from $557.9 billion in 2012 to $415.3 billion in 2014, according to the World Bank's estimation.

During a recent televised address to Iranians, President Hassan Rouhani said that his administration planned an annual 8-percent GDP growth in next years.

"However hard to achieve, the Supreme Leader Ali Khamenei has said we should try to achieve an economic growth of 8 percent. That is a must. If we achieve that, by 2021 Iran's revenues will grow by 59 percent and after 20 years, our income will increase 4.5 times," Rouhani stated.

Edited by CN

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