Baku, Iran, Mar. 20
By Khalid Kazimov - Trend:
Iranian First Vice President Eshaq Jahangiri has said that President Hassan Rouhani administration managed to lower Iran's economic inflation from 40 percent when it came to office to 16 percent at the end of the current Iranian fiscal year (March 20).
He pointed out that the fight against inflation was free of contractionary monetary or banking policies, Shana news agency reported March 20.
He also expressed happiness that the national budget for the next Iranian fiscal year (starting March 21) comes with good growth in the civil projects' budget.
The administration of Rouhani faced more than 100 trillion rials (about $3.2 billion) budget deficit in the first nine months of the current Iranian calendar year.
Jahangiri pointed out that while 400 trillion rials (over $14 billion) was planned to be invested in civil projects in the current year, only 300 trillion rials (less than $11 billion) of it was realized due to sharp reduction in oil prices.
According to the World Bank's report, oil makes up about 80 percent of Iran's total export earnings and50 to 60 percent of government revenues.
Jahangiri also expressed happiness that in the first months of the current Iranian year (March 21, 2014 to December 21, 2014) the country's economic growth hit 3.6.
The administration's revenues hit 630 trillion rials (about $18.2 billion) in the first 9 months of the current Iranian fiscal year (Mar. 21 to , while the running costs amounted to 1010 trillion rials (about $28.8 billion), according to a report published by the Central Bank of Iran.
Edited by CN