Majlis

New motion heralds increased oil, Power investment

A view of Iran’s Majlis

TEHRAN Jan 04 (Shana)–Iran’s parliament has passed a long-awaited motion which is believed to enhance investments in the country’s oil and power sectors.

The law prioritizes investors who are willing to receive crude oil, gas condensates and petroleum products for government debts.

The motion is aimed at removing barriers to promotion of the country’s power and oil industries by enhancing investments.

Iran’s inflation rate has been falling since Rouhani took office in August 2013.

The Iranian administration has expressed its determination to reduce the existing high inflation rate to a one-digit level.

Based on official figures, Iran’s economic growth rate will turn positive by the end of the current Persian calendar month (ending September 22) after the country experienced months of stagflation, suffering negative economic growth combined with rising inflation rate.

By SHANA

 

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