Iranian MP concerned over government’s economic stimulus

Business Materials 14 November 2015 16:05 (UTC +04:00)

Tehran, Iran, Nov. 14

By Temkin Jafarov, Mehdi Sepahvand -Trend:

A senior Iranian MP has expressed concern over the government's recent economic stimulus, saying that if the stimulus is not handled properly, it will not put an end to the current recession.

Further, it the stimulus is not properly carried out, it is likely that production will continue to remain weak and a permanent recovery will not occur, Qolamali Haddad-Adel, leader of the right-wing Principlist Parliamentary Group, told Trend November 14.

He said he hopes that the stimulus leads to constant growth and "acts like new blood in the veins of production".

Meanwhile, Iranian government spokesman Mohammad Baqer Nobakht said November 11 that the stimulus will lead to economic growth, in the short term.

The Iranian government unveiled its economic policy package in late October, in a bid to stimulate growth in the stagnant economy through higher investment in production and encouraging consumer spending.

The measures are envisaged for a duration of six months in the run-up to the removal of international sanctions against Iran.

The sanctions are to be lifted in the coming months, following Iran's landmark agreement on its nuclear program, which was reached in July.