Iran Gov’t plans to generate 1 million jobs next year

Financial Tribune – One of the main objectives of the government in the next Iranian year (starting March 20, 2020) is to boost domestic production and employment.

As one of the appendixes to the newly unveiled budget bill suggests, the Iranian government is planning to create close to one million jobs by shoring up main sectors driving economic growth.

The government will focus on investment in reviving neighborhoods struggling with urban decay, agriculture, tourism, knowledge-based companies, industry and mining, culture and arts, inter-city rail transport and improving labor policies to create jobs.

To finance job-creation projects in these eight fields, 535.48 trillion rials ($4 billion) will be allocated from three main sources, namely bank resources, the country’s sovereign wealth fund, i.e. the National Development Fund of Iran and the government’s general budget.

Banks will provide more than 277 trillion rials ($2 billion) of the total sum, NDFI 184 trillion rials ($1.39 billion) and the government’s general budget 73 trillion rials ($55 million), according to a report by the Persian-language daily Iran.