Iranian gov't unveils six-month economic recovery package

October 19, 2015 9:20 am 

TEHRAN, Oct. 18 — Head of the State Management and Planning Organization (MPO), Mohammad-Baqer Nobakht, on Saturday unveiled a six-month package to stimulate the Iranian economy from recession.

Speaking a joint press conference with Minister of Economy and Finance Ali Tayebnia and Governor of the Central Bank of Iran (CBI), Valiollah Seif, on Saturday, Nobakht said the economic resistance policies of the government serve as the theoretical foundation for the package.

He said the package envisions mobilization of resources to raise domestic products and growth of exports by removal of impediments to production in line with the five-year Economic, Social and Cultural Development Plan.

He said that in the six-month period, the Ministry of Economy and Finance, the CBI and the MPO will have the responsibility to mobilize resources to stimulate demand for domestic products.

He added that the MPO will specifically have the duty to provide the administrative expenditure, and the Ministry of Economy and the CBI will jointly determine the financial and fiscal policies.

He said the main goal of the package is ensure low inflation and positive economic growth aiming projected at 8 percent.

Regarding events in the past six months, such as fall in crude oil prices in the world markets and its impact on international economy, Nobakht said the factors discouraged demand regarding government expenditure and insufficient investment. Nobakht said the new policies are adopted for the next six months and are endorsed by economic team of the government. (PNA/IRNA)

BNB/RSM

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