28 Mar 2024
Sunday 10 August 2014 - 15:30
Story Code : 110481

Govt adopts plan to lead Iran out of recession

Govt adopts plan to lead Iran out of recession
TEHRAN August 9 (Shana)--President Hassan Rouhanis administration has adopted a plan to lead Irans economy out of stagnation, a presidential advisor said.
Mohammad-Ali Najafi said the countrys economy plunged into recession in 2012 when international sanctions were toughened against Iran.


The inflation rate soared past 40 percent in 2013, said the official, adding that Iran was among eight countries with inflation above 40 percent in that year.

Najafi said the government has managed to bring down the inflation from 40 to 15 percent since taking office a year ago.

He said Irans economy is expected to get out of recession by March 2016 before Iran starts its sixth five-year economic development plan.

By SHANA

 

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