Iran overcomes economic problem despite oil price fall - Rouhani (UPDATE)
Tehran, Iran, March 7
By Fatih Karimov - Trend:
Iranian president said that his administration is running the country with $25-dollar oil, the state-run IRINN TV reported March 7.
While addressing people in the southern Yazd city, Rouhani said that his administration has controlled the economic situation in the country, meanwhile many other oil producers are facing serious economic problems.
The Iranian administration has kept the value of the national currency despite sharp decrease of crude oil price, Rouhani said.
He also criticized the administration of former president Mahmoud Ahmadinejad for mismanagement, saying while the country's oil revenues hit $120 billion no serious steps were taken by the administration regarding the employment.
He further said that his administration has established about 1.2 million jobs in two years.
Rouhani also forecasted that in the next fiscal year (to start March 21) Iran will witness economic growth.\
The Iranian president said last month that his country needed an economic growth of eight percent, in order to deal with inflation and unemployment, both of which stand above 10 percent.
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.
However the country's economic growth stands below one percent and the stagnation problem remains unsolved.
Iranian officials say that an economic growth of five percent is expected for next fiscal year.