Iran to increase pensions

Business Materials 3 July 2019 18:26 (UTC +04:00)

Tehran, Iran, July 3


Iranian government is to increase the pensions of retired employees by 20 percent, said the head of Planning and Budget Organization.

"The Planning and Budget Organization will increase pensions of the retired employees of civil and military sector," said Mohammad Bagher Nobakht, Trend reports citing ILNA.

"The increase by 20 percent is similar to the increase in salaries of working employees. Around $809 million to be allocated to the pensions that shall grow to $1 billion," he added.

"issues caused by the fluctuation in the foreign exchange market that caused devaluation of national currency has been resolved and we reached stability," he said.

"The monthly inflation is reducing; the growth of inflation in last month was 3.4 percent and it has dropped to 0.8 percent. The economic growth is still negative, but the prospects are promising. I think World Bank and International Monetary Fund will forecast positive economic growth for Iran in next year," he said.