Iran inflation to fall below 20 percent by year-end, President Rouhani says
Tehran, Iran, Aug. 20
By Milad Fashtami - Trend:
Iran inflation will fall below 20 percent by the end of the current calendar year (March 20, 2015).
"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 mention time," Iranian President Hassan Rouhani said on Aug. 20, Iran's IRNA News Agency reported.
He went on to note that the country struggled with an inflation rate of 40 percent last year.
"When the government started its work, I promised that the inflation would 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.
The 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 President Hassan Rouhani said on March 29 that the country's inflation rate is projected to drop to 25 percent by the end of the current Iranian calendar year (March 20, 2015), Iran's Arsh news website reported.
"Improving relations with foreign countries may even cause the figure to fall below 25 per cent," he explained.
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.