Iran’s Economy Has Potential of 8% Growth: Central Bank Chief

TEHRAN (Tasnim) – Governor of the Central Bank of Iran (CBI) Valiollah Seif said the country’s economy has the potential to grow by around 8 percent a year.

Iran’s Economy Has Potential of 8% Growth: Central Bank Chief

"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 told a conference in Frankfurt on Wednesday, Reuters reported.

The top banker left Tehran for German city of Frankfurt early on Wednesday to attend and address the ongoing Euro Finance Week.

"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.

Euro Finance Week, which started on November 16 in Frankfurt and will last until November 20, is considered Europe’s biggest conference for the finance and insurance industry.

This year in the 18th edition of the conference, the main focus will be on the integration and regulation of the European financial and insurance markets.

Beside financial and banking issues, the conference will also focus on such fields as energy (including oil and gas industry), tourism, industry, agriculture, health, and environment.

Euro Finance Week offers an opportunity for participants to exchange views and discuss the current state of the financial industry and the effects of regulation.

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