Iranian commerce official talks economic hurdles
Baku, Azerbaijan, March 6
By Khalid Kazimov – Trend:
Chairman of Tehran Chamber of Commerce, Industries, Mines and Agriculture (TCCIMA) Masoud Khansari has said that the country's economy over the current year suffered from recession and unemployment.
“Despite a relative stability caused by a single-digit inflation rate, we are facing the issues of unemployment and lack of economic growth in production, difficulties in access to banking facilities as well as a drop in the capability of the domestic goods for competition with foreign ones,” IRNA news agency quoted him as saying.
He further described wrong policies regarding foreign currencies, unorganized banking structure in adopting monetary policies and lack of budget deficits as well as government debts as the main problems of the country’s economic system.
Iran’s foreign trade with the EU over the first ten months of the current fiscal year (starting March 20) surged by 52 percent and reached 21 billion euros.
The inflation rate according to the Statistical Center of Iran stands at 8.2 percent but Central Bank of Iran has put the figure at 9.9 percent.
The country’s economic growth over the first half of the current fiscal year (starting March 20) stood at 4.5 percent. The IMF has put the figure for the current year at 3.5 percent and 3.7 percent in the coming year.