Iran needs $232 billion of yearly investments to get 8% economic growth

Business Materials 11 January 2016 17:28 (UTC +04:00)

Tehran, Iran, January 11

By Mehdi Sepahvand -- Trend:

In order to achieve an economic growth rate of eight percent, Iran will need an annual investment of 7 quadrillion rials ($232 billion, as 30,165 rials making 1 USD), the country's Economy Minister Ali Tayyebnia said.

He added that the country's banking system has so many problems that it cannot provide the investment, ISNA news agency reported January 11.

The official further stated that government expenditure in the developmental area is 200 to 300 trillion rials.

The 8-percent economic growth is among the demands of Supreme Leader Ayatollah Ali Khamenei.

Iran's economic growth was hampered by intense sanctions. The country expects to be freed of the sanctions in a few days.