Iran government to open room for foreign banks – spokesman
Tehran, Iran, Oct. 26
By Mehdi Sepahvand -- Trend:
Iranian government spokesman and Director of the Management and Planning Organization Mohammad Baqer Nobakht said the countdown for the removal of economic sanctions has started.
Speaking during the opening ceremony of the Iran Transaction Exhibition, Nobakht hoped that by grasping the new situation after the implementation of the Iran nuclear deal called the Joint Comprehensive Plan of Action (JCPOA), the country would be able to use monetary and financial tools to end the economic downturn and boost growth, Trend's correspondent reported from Tehran Oct. 26.
Nobakht said the Central Bank of Iran has been given a special mission to help end the country's economic afflictions that have been caused by sanctions.
The official said the Sixth Development Plan welcomes foreign monetary and financial companies to work in Iran. He said the government is composing the Sixth Development Plan based on the post-sanctions situations. The plan will be adopted next Iranian fiscal year, which starts March 21.
Nobakht also pointed out that economic inflation for the past month reached 13.3 percent.
Economic inflation had been above 40 percent when the Rouhani administration took office in 2013. Nobakht counted the success as the result of correct economic policies adopted by the government.
Nobakht said to reach an economic growth rate of 8 percent, the government needs something between 8,000 trillion to 10,063 trillion rials (29,950 rials making 1 USD). The target economic growth of 8 percent has been defined by Supreme Leader Ayatollah Ali Khamenei.
Edited by CN