kayhan.ir

News ID: 11414
Publish Date : 25 February 2015 - 21:07

Minister: Iran's Economy to Experience Single Forex System Soon

TEHRAN (FNA) - Iranian Minister of Economy Ali Tayyebnia said that his ministry is resolved to unify forex rate to accelerate curbing trend of the country's inflation rate.

"The conditions for unifying forex rate should be met to pave the ground for the materialization of predicted growth for the country's economy,” Tayyebnia said.
He noted that Iran will be able to introduce a single forex rate system as early as next fiscal year, which starts on March 21.
"A single forex rate system will be possible only after financial markets witness relative calm,” Tayyebnia underscored.
Earlier this month, Spokesman of the Iranian Government Mohammad Baqer Nobakht announced plans to increase the country's economic growth to %2 next year (March 2015-March 2016).
"You saw a negative economic growth in the last two years, but this year you will witness an economic growth of %2," Nobakht said, addressing a meeting with lawmakers on Iran's next year budget.
He also said that the government expects investment in the country to grow to 4% in the next Iranian year.
His remarks came after the International Monetary Fund (IMF) in its January report predicted a prosperous economic year for Iran in 2015.
In its latest report, the organization outlined the perspective for the Iranian economy in 2015, predicting seven improving infrastructure indicators for the country.
The IMF predicted a 2.2% real GDP growth for the Islamic Republic of Iran in 2015.
According to the purchasing power parities, Iran’s Gross National Growth rate is predicted to increase by $53bln in 2015. Based on consumer price index in the previous year, the GNP rate which stood at $402bln in 2014 will rise to $417bln this year.
Iran’s real GDP growth picked up in 2014 with 1.5% growth and is expected to grow further by 2.2% in 2015, after two years of negative economic growth, the IMF said.
Iran's 2013 GDP hit 39bln which led to -2.4 percent economic growth of the country.
The government of Iranian President Hassan Rouhani had promised to zero down the country's negative economic growth after taking power 2013, but now it is promising a %2 growth for the next year despite the sanctions and pressures exerted on Iran by the US-led West.