Economy, Domestic Economy

Majlis Reaches Consensus on Outlines of Sixth Plan

Majlis Reaches Consensus on Outlines of Sixth PlanMajlis Reaches Consensus on Outlines of Sixth Plan

The parliament reached consensus on the outlines of the Sixth Five-Year Economic Development Plan (2016-21) on Sunday.

The five-year economic development plans are medium-term roadmaps designed by the government to help achieve sustainable growth, outlining strategies in its budget planning for the next five years, IRNA reported.

Earlier, Leader of the Islamic Revolution Ayatollah Seyyed Ali Khamenei laid out the basic guidelines for drafting the plan late June.

Later, President Hassan Rouhani submitted the Sixth Plan along with the current fiscal year's budget to the parliament mid-January, hours after the UN nuclear watchdog confirmed that Iran was conforming to its commitment to limit the scope of its nuclear program as per the deal the country signed with world powers in July 2015.

The confirmation marked the official lifting of economic sanctions against the Islamic Republic.

The Sixth Plan stipulates "the utilization of the country’s full capacities and resources to achieve sustainable and rapid economic growth at an average rate of 8% throughout the plan period," reads the very first clause of the Leader's guidelines sent to the president on June 30.

The full ratification of Sixth Plan is expected to take two weeks from now.

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