Economy, Domestic Economy

Unrealistic Expectations Blamed for Recession

Unrealistic Expectations Blamed for RecessionUnrealistic Expectations Blamed for Recession

First Vice President Es’haq Jahangiri blames unrealistic public perception about post-sanctions prices for the ongoing recession in many economic sectors. “Unfortunately, some people are expecting a sudden fall in prices after the implementation of the nuclear agreement, which has resulted in accumulation of stockpiles in production units,” the official said in his meeting with managers of government and private banks and financial institutions on Wednesday. Jahangiri called on economic experts and specialists to offer their solutions to help the government manage the current situation, IRNA reported. According to the nuclear agreement reached between Iran and the major world powers in Vienna on July 14, western sanctions against Iran are to be lifted in exchange for Iran limiting its nuclear energy program.