Tehran, Iran, Jan. 26
By Milad Fashtami - Trend:
Iranian Minister of Economic Affairs and Finance Ali Tayebnia said the country can experience over 8 percent of economic growth, once the sanctions are lifted.
"Some estimates say the country's economic growth will reach 6.5 percent once the embargo is lifted, but I, personally, think it will reach 8 percent," he said, Fars news agency reported on Jan.26.
"Of course for reaching such a goal, we need to use all he capacities of our economy," he noted.
The official went on to note that the Iranian government started economic reforms after the oil prices started falling in global markets.
"The country's banking system also needs reforms," Tayebnia said.
Iranian President Hassan Rouhani said in December that the country's economic growth was 4 percent in the first half of the current Iranian calendar year (March 21 - September 22).
"The country faced negative economic growth for two consecutive years, but Iran is now on the track of positive growth," Rouhani added.
The Iranian president previously said that the government's goal is to increase the country's economic growth up to 6 percent by the end of current year (March 20, 2015).
It is while according to the International Monetary Fund, Iran's economic growth rate will hit 1.5 percent in the current year.
Masood Ahmed, the director of the IMF's Middle East and Central Asia Department, said in August that the country's economic growth rate will increase to 1.5 percent after two years of contraction.
The IMF said in April 2014 that Iran's economy had contracted by 1.7 percent in 2013. However, the economy will come out of recession in 2014, the report added.
Edited by CN