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Iranian government sets next year inflation rate at 10%, economic growth at 4.1

Business Materials 15 September 2015 14:06 (UTC +04:00)

Baku, Azerbaijan, Sept. 15

By Khalid Kazimov - Trend:

The Iranian government is preparing next year's national budget plan to be delivered to the Parliament, government spokesman Mohammad Baqer Nobakht said.

He said the general resources for the public budget are set at 2.13 quadrillion rials (29,950 rials making 1 USD), Fars news agency reported Sept. 15.

The government will start addressing the budget draft Sept. 16 Nobakht said.

Economic inflation is set between 10 to 11 percent and economic growth at 4.1 percent, he stated.

The official said the government has of present made no decision about changing the prices of energy carriers.

According to Nobakht, next year's budget depends 30 percent on oil revenues.

The Iranian fiscal year starts March 21.

President Hassan Rouhani came to office in 2013 when inflation was above 40 percent.

The Central Bank of Iran (CBI) announced that the inflation rate in the urban area for the 12-month period to the fifth Iranian calendar month of Mordad (ended on Aug. 22) hit 15.4 percent, 0.2 percent less compared to preceding month.

Supreme Leader Ayatollah Ali Khamenei has urged meeting an economic growth of 8 percent, which Rouhani said his administration would try to achieve, however hard to reach.

Edited by CN

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