Iran's minister notes country's economic growth

Business Materials 12 February 2021 15:15 (UTC +04:00)

BAKU, Azerbaijan, Feb.12


Iran's economic growth during first nine months of the current Iranian year was positive, said Iran's Minister of Economic Affairs Farhad Dejpasand, Trend reports citing IRNA.

"The government's revenues from oil export was only $1.9 billion during the first nine months of the current Iranian year, but the government has offered $238 million worth of bank advances to support production," said Dejpasand.

"Meanwhile, our assets have remained blocked in some countries due to sanctions, and we couldn't establish cooperation with them to have the funds released to purchase the COVID-19 vaccine," he said.

"The country's costs have increased by 30 percent in the first ten months of the current Iranian year, comparing to same period of the last Iranian year, but the government has never borrowed any money from the Central Bank of Iran since it was sure that it would cause inflation and put pressure people," he said.

"Issue and sale of bonds, managing taxes and other methods was on the government's agenda to manage the economy. This approach yielded results and the government was able to offer credit to big projects," Dejpasand said.

"The government and the private sector are working to improve economy and the government is obligated to support the private sector in this regard, private sector is the main player in the economy," he said.