CBI Deputy: Iran’s Non-Oil Economic Growth to Continue

TEHRAN (Tasnim) – A downward trend in the inflation rate in Iran and the improvement in the country’s non-oil economic growth will continue in the next Iranian year (starts on March 20), a deputy governor of the Central Bank of Iran said.

CBI Deputy: Iran’s Non-Oil Economic Growth to Continue

In an interview with Tasnim, Peiman Qorbani, the CBI deputy governor for economic affairs, said macroeconomic indicators illustrate an improvement in Iran’s economic conditions despite the maximum pressures that the enemies have been exerting on the country.

Calculations and assessments indicate that the downward trend in the inflation rate and the improvement in the non-oil economic growth will continue next year, he added.

The continuation of the current trend and stability of other conditions will reduce the inflation rate in the next Iranian year to around 20 percent, Qorbani said, noting that such circumstances will offer an appropriate prospect for strengthening anti-inflationary policies, a bigger drop in the inflation rate, stabilization of economy, and a structural reform of the country’s money market.

In remarks in October 2019, Iranian President’s Chief of Staff Mahmoud Vaezi said the US economic war and unprecedented sanctions imposed on the Islamic Republic have failed to stop the country’s economic growth.

Iranian First Vice-President Eshaq Jahangiri had also announced earlier that despite the US government’s sanctions against the country, Iran’s economy was moving toward a better and more stable situation.

The US has ratcheted up pressure on Iran since May 2018 after withdrawing from the 2015 nuclear deal, known as the Joint Comprehensive Plan of Action (JCPOA).

Related news
Most Visited in Economy
Top Economy stories
Top Stories