Economy, Domestic Economy

Cooperatives Share Meager in Economy

Cooperatives Share Meager in EconomyCooperatives Share Meager in Economy

The cooperatives sector has so far failed to deliver its envisioned share of 25% in the national economy as the sector’s current share is no more than 5%, according to senior official at Tose’e Ta’aavon Bank, Mohammad Jafar Irani. “The national economy falls into three sectors of public, cooperative and private. However, the cooperatives sector’s share in the economy is still trivial,” he was quoted by Mehr news agency as saying. He further said that in a bid to stimulate the sector, Tose’e Ta’avon Bank has been tasked to allocate more than 3 trillion rials ($1.07 billion based on official exchange rate) to the cooperative sector, adding that it accounts for over 70% of the bank’s total available resources.