Effects of lifting sanctions on Iran to be seen after six months
Baku, Azerbaijan, Aug. 4
By Fatih Karimov - Trend: Effects of lifting sanctions on Iran will be seen by the end of the current Iranian fiscal year (March 2016), said Iranian economy minister Ali Tayyebnia.
Lifting the sanctions will pave the way for restructuring the Iranian economy at the least expense and with the highest productivity, Iran's IRNA news agency quoted Tayyebnia as saying August 4.
In the near future, unjust sanctions on the Iranian nation will be removed, he said, adding that in addition to resolving structural problems, making investment by the private sector will be eased.
"We are planning to boost participation of the private sector in production and export areas with the goal of attaining economic growth."
Iran and P5+1(the US, UK, France, Russia, China and Germany) achieved the nuclear deal on July 14 and it's expected by the end of 2016 that the sanctions will be removed.
Iran's gross domestic product (GDP) decreased from $557.9 billion in 2012 to $415.3 billion in 2014, according to the World Bank's estimation.