Iran’s economic growth remains under 1%
Baku, Azerbaijan, March 6
By Fatih Karimov - Trend:
Iran's economic growth remains below one percent, Mohammad Bagher Nobakht, the Iranian government spokesman said.
Nobakht, who heads Iran's Management and Planning Organization, said that Iran's economic growth during the first nine months of current fiscal year (started March 21, 2015) reached 0.7 percent, Tasnim news agency reported.
He further said that economic growth needs investment, meanwhile Iranian administration revenues were basically limited to oil incomes.
He added that Iran's agriculture sector registered a significant growth during the period, however industry and service sectors' growth was not reasonable.
The stagnation problem remained unsolved, Nobakht said, adding the administration will continue its policies regarding the control of inflation.
Nobakht further said that an economic growth of 5-6 percent in expected for next fiscal year (to start March 21).
In January, world powers led by the United States and the European Union lifted sanctions on Iran. The subsequent leap in Tehran's stock market in late January and early February gave a hint of the country's investment potential.
But President Hassan Rouhani said last month that his country needed an economic growth of 8 percent, in order to deal with inflation and unemployment, both of which stand above 10 percent.