Iranian economy minister: Inflation will fall to below 15 per cent next solar year
Baku, Azerbaijan, March 7
By Fatih Karimov - Trend: The inflation rate in Iran will fall to below 15 per cent in the next Iranian calendar year, starting on March 21, the Mehr News Agency quoted Iranian economy minister Ali Tayyebnia as saying on March 7.
If we succeed in continuing the current trend [of economic progress], the inflation rate will certainly reach below 15 per cent, he added.
Unfortunately, during the recent years the country moved toward the opposite side of resistant economy policies. So, it became more and more dependent on foreigners. These factors put the national economy in serious danger, Tayyebnia said.
The international sanctions reduced the country's oil and petrochemical revenues. So, it caused an imbalance in the government's budget, he noted.
The inflation rate for the 12-month period to the eleventh Iranian calendar month of Bahman (ended on Feb. 19) reached 33.7 percent, vice-president for Strategic Planning and Control, Mohammad Baqer Nobakht said, Iranian Fars news agency reported on Feb. 27.
He also went on to say that the point-to-point inflation stood at 22 percent, which indicates a fall by 5.5 percent.
Nobakht also expressed thanks to the administration's economy team for its work on reducing the inflation rate.
Iranian president Hassan Rouhani said on Feb. 26 that in last six months the inflation rate in Iran has decreased, forecasting that the figure will stand at 35 percent by the end of current Iranian calendar year (ends on March 21).
"The decreasing trend of the inflation rate will continue in the next Iranian calendar year and will reach 25 percent," he added.
The inflation rate for the 12-month period to the tenth Iranian calendar month of Dey (ended on January 20) hit 38 percent, while the point-to-point inflation stood at 28.8 percent, Central Bank of Iran announced on Feb. 3.
However, the Statistical Center of Iran announced on Jan. 28 that the inflation rate for the 12-month period to the tenth Iranian calendar month of Dey hit 35 percent.
The figure shows a 0.5 percent fall compared to the previous month, the center reported.