Iran envisages 3% economic growth for next year

Iranian Government Spokesman Mohammad Baqer Nobakht said the country’s economic conditions will considerably improve in the next Iranian year (starts March 21, 2014). It is predicted that (Iran’s) economic growth will be three percent and the liquidity growth will stand somewhere between 18 to 20 percent,” Nobakht told reporters after a press conference here in Tehran on Monday, one day after President Hassan Rouhani presented the government’s budget bill for the next Iranian year to the parliament. He pointed to the budget’s impacts on the country’s economy, and said, “Economic growth is forecast to be minus 0.8 percent by March 20, 2014 and 3 percent for the next year.” Nobakht, also a vice-president for strategic planning, noted that the country’s investment growth that was minus 21.9 last year (ended March 20) will amount to minus 1.7 by March 20, 2014, adding that the figure will stand at 1.7 to 1.9 by the end of the next year. He pointed to the forecast of 19 percent liquidity growth by March 20, and said “the rate will be 18 to 20 percent by the end of the next year." The Iranian government spokesman also predicted that after the removal of the US-led western sanctions following the recent Geneva agreement, Iran's crude, gas and petrochemical sales will rise. Nobakht said that foreign finances will amount to sum $8 billion to $9 billion by March 20. Last month, Nobakht confirmed the release of $8bln of Iran’s blocked assets by the US administration. Speaking to reporters in Tehran, Nobakht pointed to the recently signed nuclear agreement between Iran and the six major world powers in Geneva on November 24, and confirmed reports about the release of $8bln of Iran’s assets by the US administration. He stressed that the agreement will ease the anti-Iran sanctions, which will have significant impacts on the Iranian economy. The first step agreement was reached in Geneva on November 24 after four days of intensive talks between representatives of Iran and the Group 5+1 (US, Britain, Russia, Franc, China and Germany).