Economy, Domestic Economy

8% Growth Requires $1 Trillion

8% Growth Requires $1 Trillion8% Growth Requires $1 Trillion

Iran will need $1 trillion to reach its 8% annual growth target as per the sixth five-year development plan, Presidential Advisor Akbar Torkan said last week.

“Two-thirds of the needed fund can be raised domestically but to do so improvements in management and Iran’s “internal conditions” are needed,” he said.  Torkan added for the rest, foreign investment must be attracted by streamlining business regulations and easing banking operations.

“The administration has a preference for direct investment as opposed to portfolio investment as the former would lead to transfer of technology and expertise to Iran and boost productivity,” he said.

The administration is also seeking to improve productivity to reach its growth target.