Iran Central Bank welcomes joint investments in various fields

Business Materials 17 February 2016 20:53 (UTC +04:00)

Baku, Azerbaijan, Feb. 17
By Farhad Daneshvar - Trend:

Central Bank of Iran welcomes joint investments in the various fields of oil and gas industry, mining, goods production and service sectors that are capable of being exported to the regional countries and also being consumed domestically, an Iranian central banker said.

The deputy governor of Central Bank of Iran Akbar Komijani has said that that the President Hassan Rouhani's administration and the central bank has managed to decrease the level of inflation at the country, Shana news agency reported.

Komeijani made the remarks at a meeting with Lorenzo Simonelli, chief executive officer of General Electric Co.'s oil-and-gas business, in Tehran.

Komeijani added that the country is climbing out of the economic recession but the sharp decline in the oil prices has slowed economic growth in Iran.

Forecasting a proper economic growth for Iran in 2016, the Iranian banker said that the World Bank has predicted 5.5 percent growth for Iran.

In turn, Lorenzo Simonelli said that General Electric was involved in business activities in Iran before imposing sanctions against the Islamic Republic and the company's experts are in Tehran now to explore fresh business opportunities.

A recent IMF report estimates that Iran's real GDP growth is projected to accelerate to 4-5.5 percent in 2016/2017 and to average 4 percent throughout the medium term.
The report forecasted that the country's inflation will fall to 11.8 percent in 2016 and 10.5 percent in 2017.

Iran plans to register an economic growth of 8 percent according to a five year plan that will begin in March 2017.