Minister: Iran taking wide stride towards economic improvement

TEHRAN (FNA)- Iranian Economy Minister Ali Tayyebnia predicted that the country’s economy would witness an eye-catching growth in the coming months, and said the perspective of private and foreign investment in Iran is also bright.

“The inflation rate has decreased well; the 11th government has envisaged a 25-percent inflation rate for the current (Iranian) year (ending March 20, 2015) and due to the successes that we have gained in the recent months, attaining this goal is possible,” Tayyebnia said Wednesday.

“Our prediction is that recession will continue reduction and the trend of economic growth will become positive in the current year,” he added.

Stressing that the international bodies, including the International Monetary Fund (IMF) and the World Bank, have also voiced optimism about the new Iranian government’s policies, Tayyebnia said, “The perspective of the private sector’s investment and foreign investment is also highly bright and promising.”

The Central Bank of Iran (CBI) announced in June that the country’s inflation rate has decreased by 9.8 percent since the administration of President Hassan Rouhani took office in August 2013.

The CBI said that the inflation rate reached 30.3 percent in May 2014, showing a sharp decrease compared with the 40.1-percent figure in September 2013.

The CBI noted that the fall in inflation rate started in November 2013, two months after Rouhani warned that the Iranian economy was in the state of stagflation, a situation where the inflation rate is high and the economic growth rate slows down.

The Rouhani administration has envisaged a 25-percent inflation rate for the current Persian calendar year.

Analysts believe that a rise in production of goods and services has attracted liquidity to these sectors and led to the new fall in inflation rate.

By Fars News Agency

 

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