10 August 2014 - 12:32
  • News Code: 222506
Gov’t Adopts Plan to Lead Iran Out of Recession

TEHRAN August 9 (Shana)--President Hassan Rouhani’s administration has adopted a plan to lead Iran’s economy out of stagnation, a presidential advisor said.

Mohammad-Ali Najafi said the country’s economy plunged into recession in 2012 when international sanctions were toughened against Iran.
The inflation rate soared past 40 percent in 2013, said the official, adding that Iran was among eight countries with inflation above 40 percent in that year.
Najafi said the government has managed to bring down the inflation from 40 to 15 percent since taking office a year ago.
He said Iran’s economy is expected to get out of recession by March 2016 before Iran starts its sixth five-year economic development plan.
News Code 222506

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