Baku, Azerbaijan, May 24
By Khalid Kazimov – Trend:
Iranian northern province of Mazandaran will allocate over $3 billion (10 trillion rials) for the renovation of large industrial units in the current fiscal year (starting March 20), a provincial official said.
The head of provincial organization, Mohammad Mohammadpour, has said that the plan for allocating the budget has been approved and the Central Bank of Iran (CBI) will soon introduce its payment plan for allocating the budget, IRNA news agency reported.
The official further forecasted that the measures taken by his organization would help reducing unemployment over the next four years.
According to the World Bank, Iranian economy bounced back sharply in 2016 at an estimated 6.4 percent.
However, the unemployment rate returned to a three-year high of 12.7 percent (or 3.3 million unemployed) in the second quarter of 2016 despite the high growth rate in this period.