Iran seeks to curb inflation by aid of private sector

Finance Materials 25 October 2021 15:03 (UTC +04:00)
Iran seeks to curb inflation by aid of private sector

TEHRAN, Iran, Oct.25


Iran is planning to curb the rising inflation rate by stabilizing the economy with private sector investment, said the head of Plan and Budget Organization, Trend reports citing IRNA.

Economic growth and stability are accessible when private sectors investors are at ease to invest in manufacturing that consequently would control the rising inflation, Masoud Mirkazemi noted.

The country is facing a 23 percent inflation rate and investment has declined due to concern about market instability.

The government has predicted 8 percent economic growth in 2022 by applying new policies to curb inflation, guide people to invest in public projects, and prevent further decline of national currency value.

Meanwhile, the current public income is not equal to the inflation rate and the government plans to assign public civil and construction projects to the private sector as a solution to boost investment and the economy.