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Iranian president Ahmadinejad defends his government in live TV speech

Iran Materials 4 July 2013 10:38 (UTC +04:00)
Iranian President Mahmoud Ahmadinejad defended his government's economic management during a live TV interview with IRIB Channel 1.
Iranian president Ahmadinejad defends his government in live TV speech

Azerbaijan, Baku, July 4/ Trend, D.Khatinoglu /

Iranian President Mahmoud Ahmadinejad defended his government's economic management during a live TV interview with IRIB Channel 1.

He said that Iran's foreign exchange and gold reserves hit above $100 billion, while the National Development Fund holds above $50 billion reserves and these assets are gift for the next government.

Ahmadinejad, who would hand over presidency to president-elect Hassan Rohani in few weeks, added that during his presidency (2005-2013) Iran's economy passed from 22nd to 17th place in the world, Iran's steel production rose from 9.7 million tons to 24 million tons, cement production rose from 33 million tons to above 80 million tons, ceramic and tile production rose from 186 million tons to 380 million tons.

He added that from 1997 to 2004 the industrial investment amount hit up to 210 trillion rials, but this figure for 2004 to 2013 reached up to 1,150 trillion rials.

USD rate in Iran in 2004 was about 8,000 rials, but this figure is about 24,790 rials in Foreign Exchange Center and 33,500 rials in an open market now.

President Ahmadinejad also underlined that a privatization amount in Iran before this presidency (1979 to 2004) totaled 28 trillion rials, but this figure during his two-term presidency was 1, 119 trillion rials.

According to Ahmadinejad, the foreign direct investment amount from 1979 to 2004 was $12.92 billion, but during his 8 years presidency this figure was $25 billion.

The Iranian president said that the country's foreign debts decreased from $41.853 billion to $14.373 billion during his presidency.

Despite Ahmadinejad repeatedly protected his government's economic performance, his critics say that he is responsible for about 70 percent of economic problems in Iran.

President Ahmadinejad's legacy for Rohani includes a 1.9 per cent economic contraction in 2012, over three million unemployed citizens, 40 per cent closed industrial unions, $400 billion debts, a $60 billion deficit in last year's budget based on the USD's official rate in Iran, 32 per cent inflation, halved crude oil export and a drop in the value of the national currency by 40 per cent in 2012, alongside blocked $100 billion worth of assets in foreign countries.

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