Rouhani Pledges Economic Progress

Rouhani Pledges Economic ProgressRouhani Pledges Economic Progress

President Hassan Rouhani said a year of economic prosperity lies ahead of Iranians, as time is ripe for reaping benefits from the lifting of international sanctions in the wake of the nuclear deal with major powers.

The president made the promise at a press conference in Tehran on Sunday, days ahead of the arrival of the new Iranian year on March 20.

"I promise the people that the next year will be far better in terms of the economy and social wellbeing than the outgoing year," he was quoted as saying by IRNA.

The sanctions were removed on Jan. 16, when a historic nuclear agreement between Iran and P5+1 (the United States, Britain, France, China and Russia plus Germany) took effect to place temporary curbs on Tehran's nuclear program in return.

Highlighting his government's record since taking office in 2013, Rouhani said despite a massive decline in the price of oil, a pillar of the domestic economy, the government managed to achieve a 3% economic growth in the last Iranian year (ended March 20, 2015).

Oil prices have nosedived from figures above $100 a barrel prior to mid-2014 to current 11-year low of around $37.

The president said his administration would require the support of the other two branches of government, particularly the parliament, to deliver on its pledge of creating an economic boom.

Rouhani's allies secured a stunning victory in the votes on Feb. 26 for the parliament, which is currently dominated by rival conservatives, and the Assembly of Experts, an influential clerical body empowered to pick or dismiss the Leader of the Islamic Revolution and monitor his work.

"The incoming Majlis … will play a crucial role in determining the nation's livelihood through legislation. The government seeks closer cooperation between all branches and relevant institutions," the president added.