34569
Oversized Gov’t Bane of Economy
Economy, Domestic Economy

Oversized Gov’t Bane of Economy

Iran’s main economic challenge is its oversized government.
Economy Minister Ali Tayyebnia made the statement at a forum dubbed “JCPOA Implementation: A New Chapter in Iran’s Economy” in Tehran on Tuesday.
The minister noted that the government needs 7,000 billion rials (approx. $200 million) and foreign resources worth $90 billion to reach an annual 8% economic growth, as per the objectives of the sixth five-year development plan (2016-21), IRNA reported.
“To attract private sector investment and ease the influx of foreign capital, we need to have peace and stability, as well as a favorable business environment. Transfer of state entities to people and little government intervention are also vital, if we aim to encourage new investment,” he said.  
On the improvement of the business environment and a revision over financial market laws, Tayyebnia said, “We are not after creation of new laws; rather we are trying to eliminate cumbersome rules and regulations.”
His comments come as Hassan Pirmoazzen, treasurer of Iran Chamber of Commerce, Industries, Mines and Agriculture, said the private sector accounts for as little as 20% of Iran’s economy.

Short URL : http://goo.gl/Wbm9Tb
  1. http://goo.gl/fGAT4o
  • http://goo.gl/AX1FEx
  • http://goo.gl/OuiSXz
  • http://goo.gl/cWLzll
  • http://goo.gl/o8jk2a

You can also read ...

iPhone 8 Arrives in Tehran
Apple’s new handsets iPhone 8 and 8 Plus arrived in Tehran on...
 President Hassan Rouhani (L) meets Russian President Vladimir Putin at 2015 BRICS summit in Russia.
The member states of BRICS, the association of five major...
Montreal Hosts Iran-Canada Business Confab
The first conference between Iranian and Canadian businessmen...
BPI to Fund French Projects in Iran
Bpifrance, the country’s state investment bank, will finance...
4,200 State Accounts Moved to Central Bank of Iran
Some 4,200 state-owned companies’ bank accounts have been...
Steel Exporters Welcome Rial Depreciation
It’s a fairly straightforward scenario. Weakening a domestic...
Iran to Join Postal SWIFT in December
Iran will be connected to the financial services system of the...
HRC accounted for the lion’s share of finished steel usage in Iran during the five-month period.
Iran’s semi-finished steel exports during the first five...

Trending

Googleplus