Iran has potential to grow by 8 pct a year – governor

Nov 18 Iran’s economy has the potential to grow by around 8 percent a year over time, once sanctions are lifted and the country repairs its relationship with the international community, central bank governor Valiollah Seif said on Wednesday.

Iran’s economy grew by around 3 percent in the year to March and the government has already committed to an action plan that could boost this rate further, Seif told a business forum in Frankfurt.

“We believe that 3 percent growth is well below the economy’s potential and that the economy has the capacity to achieve around 8 percent growth… over the course of the current five-year development plan,” Seif said.

“The government has committed itself to a disciplined and transparent fiscal and monetary policy with a view to promoting growth and tacking high inflation,” he added.
By Reuters