Official: supporting domestic production is the key to growth for Iran
Azerbaijan, Baku, March 29/ Trend M. Moezzi
Iran's goal for an eight per cent growth in its economy can only be realised by supporting domestic production and investments, Fars news agency reports a deputy trade minister as saying.
Competition and monetary policies that make investment easy and combat smuggling are all that is needed if Iran is to achieve its goal of eight per cent growth laid out in its Fifth Five-Year Socio Economic Development 2011-2015 , said Safdar Rahmatabadi the trade minister's representative in the Majlis (parliament).
The country's Supreme Leader, Ali Khamenei, issued the slogan 'Domestic production, support for Iranian investments and jobs' for the new Iranian year on March 20.
Iran's economy is increasingly stressed by U.S.-led sanctions against Iran's oil industry and its central bank. The rial, Iran's currency, has lost half of its value against the dollar diminishing Iranians' purchasing power even as the inflation rate continues to climb.
The West's measures are part of an effort to make Iran answer questions about its nuclear programme which it says is peaceful and civilian in nature while the U.S. and its allies contend it is not.