Iranian economy to attain positive growth by year-end, President says

Photo: Iranian economy to attain positive growth by year-end, President says / Finance

Tehran, Iran, Aug. 30

By Milad Fashtami - Trend:

Iranian President Hassan Rouhani said that his country's economy will attain positive growth in the current Iranian calendar year (to end March 20, 2015).

"Our attempts have been aimed at reversing the trend of negative growth in the economy," he said.

"The government has presented a package on how to exit economic stagnation to the parliament (Majlis)," Rouhani explained.

He went on to note that the country earmarked 3.2 times more money for developmental projects in the past year.

"We succeeded to keep our promise by reducing inflation rate over the past year," Rouhani added, saying the country's Inflation will fall below 20 percent by year-end.
He once again stressed that the government tries to reach single digit inflation rate.
Iranian president made the remarks in a press conference in Tehran on August 30.
Iranian President Hassan Rouhani said on August 20 that, "When I took office last year, I vowed to decrease the inflation rate to below 25 percent by the end of the current calendar year, but I now promise that the inflation will fall below 20 percent by the mentioned time."

He went on to note that the country was struggling with inflation rate of 40 percent last year.

"When the government started its work I promised that the inflation will fall below 35 by the end of the year (March 20) and as you saw the inflation rate stood at 34 percent at the end of the year," Rouhani added.

Iranian president has vowed to decrease the inflation rate to 5 percent in the [Iranian calendar] year of 1395 (to end on March 20, 2017), Iran's Mehr News Agency reported.
"Containing inflation is the main economic priority of the government," he said.

The inflation rate in Iran in 2005, when Ex-President Mahmoud Ahmadinejad took the government was about 10.4 percent, but in mid-2013, when Ahmadinejd handed over the office to Rouhani, the inflation rate and point-to-point inflation rate were 37.5 percent and 44 percent, respectively.

Iranian Finance and Economic Affairs Minister Ali Tayyebnia said on July 19 that the country plans to decrease its inflation rate to a one-digit number.

"The government will pursue its policies to snap the country's economy out of recession," he said, Iran's IRNA News Agency reported.

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