High Inflation Discourages Investment
Economy, Domestic Economy

High Inflation Discourages Investment

The president’s chief of staff Mohammad Nahavandian said on Monday that investors are unlikely to risk their money and invest in national projects amid high rates of inflation, ILNA reported.
He made the remarks in an address to a conference on productivity and maintenance in water and wastewater industries held in Tehran.
In October 2013, inflation reached as high as 40.4 percent, which is unprecedented in almost two decades.
Praising the government’s overall economic performance during the past one and half years, Nahavandian said the government has managed to reduce the inflation rate to 17%. “Economic stability is the government’s greatest achievement.”
According to a report released by the Central bank of Iran earlier last week, the Rouhani administration has been able to decrease the Inflation rate to 17% from nearly 40% a year ago.
The president’s chief of staff added that the government and the private sector should form what he called a “symbiotic relationship,” calling on the private sector to help the government better implement development projects.
He said that the private sector should play a more effective role in giant projects in the water industry, and noted that the government’s budget alone is not sufficient for running such projects.  
“The government is trying to get the sanctions lifted and improve economic ties with other countries so as to create new opportunities for the economy,” Nahavandian said, referring to the dynamic foreign policy adopted by the Rouhani administration.

Short URL : http://goo.gl/tM2rIL

You can also read ...

Alcatel’s Android Go Cellphone in the Offing
Two of the phones Alcatel revealed last month will be coming...
NASA Seeks Help to Check Satellites
NASA is asking all cloud gazers to snap photos of the sky and...
Iran has signed a contract with China Railway Group Limited in 2015 to build a 415-km (260-mile) high-speed north-south rail line between Tehran and Isfahan via Qom.
The Economy Ministry sold 2 trillion rials ($41.6 million) of...
Banque Delubac Ready to Service Iranian Businesses
Executives with Banque Delubac and Cie, an independent French...
Trade With Afghanistan Tops $2b
Iran and Afghanistan exchanged 5.32 million tons of non-oil...
$92m Worth of Gov’t Debts to Be Cleared in Swap Deal
The government has decided to clear over 4.45 trillion rials...
Iran-Lithuania Trade Falls 44% in 2017
Trade between Iran and Lithuania stood at more than €11.1...
Gov’t, Workers, Employers Deadlocked in Setting Minimum Wage
With only a day left for the Supreme Labor Council to set the...