Iranian economy minister: Financing methods should be diversified
Azerbaijan, Baku, Mar. 26/ Trend F.Milad/
The Iranian finance and economic affairs minister has said that financing should not be confined to the banking system and the capital as well as the insurance sectors should be activated.
"Although the banking system is offering facilities more than its capacity, but it cannot meet demands fully and financial resources of the banking system are not sufficient," Shamseddin Hosseini added, the IRIB reported.
To realize the goal of eight percent economic growth rate, financing methods should be modernized, he said on Feb. 26.
Some $1.1 trillion is needed to be invested during the fifth five-year economic development plan (2010-2015) to materialize the 8-percent growth rate, Behrouz Alishiri added.
The domestic sources have the potential to meet around 56 percent of the required sum and the rest should be provided through foreign investment, he noted.
Iran needs up to $300 billion in foreign direct investment (FDI) to meet objectives of its fifth five-year development plan (2010-2015), and reach 8 percent economic growth rate, Alishiri said.