Minister: Iran economy world's 17th biggest
Azerbaijan, Baku, June 12/Trend M. Moezzi
On a visit to the Majlis (parliament), Iran's economic minister rejected reports of negative economic growth and warned that incorrect economic data is one of the tools used by the country's enemies.
Seyed Shamseddin Hosseini's comments came after a leading MP said Iran's economic growth rate has been and will be declining, Mehr news agency reports.
Mr. Hosseini tied Iran's economic performance to the world economy, the global crisis that began in 2007 and slow, unstable economic growth. After 2010, the global economic growth rate climbed to 5.2 per cent but dropped to 3.8 per cent last year and is predicted to dip to 3.3 per cent this year.
On top of all this there are sanctions imposed against Iran's oil industry and Central Bank, said the minister. The sanctions prevent investments in projects and make it almost impossible to do business. While its enemies suffer from 24 per cent unemployment rates, they point out the smallest hiccup in Iran's economy is all part of the psychological war waged against Tehran.
Mr. Hosseini cited the International Monetary Fund's (IMF) report that over the past five years Iran's gross domestic product (GDP) has doubled from $241 billion to $482 billion to bolster his argument and said the country's Subsidy Reform Plan was a huge achievement.
The minister's arguments sharply contradict reports about the health of Iran's economy. A month ago the Central Bank of Iran (CBI) reported some food prices 'grew as much as 50 per cent in the first eight days of the current (Iranian) month' and said that inflation is at a gallop.