TEHRAN -- Iranian President Hassan Rouhani has prioritized policies to help the national economy emerge from recession.
Addressing a seminar in Tehran on Tuesday, Rouhani said he has instructed the finance minister and the central bank governor to take measures to facilitate non-oil exports.
And he insisted that he will personally pursue the matter.
The government must take action to increase the production and exportation of non-oil products and to develop markets in neighboring countries, he added.
Rouhani stated that his administration has set a target of single-digit inflation for Iranian calendar year 1395 (March 2016-March 2017).
He went on to say that the administration is preparing special plans to deal with environmental pollution in the country’s big cities and will support any investments made in line with this goal.
Moreover, at least $2 billion will be invested in water preservation projects in the current Iranian calendar year (March 2014-March 2015), he said.
On July 26, the administration of President Rouhani unveiled its new economic policy package, with ending the country’s stagflation problem being one of its main goals.
This package of policies identifies the shortfall in financial resources, the slump in domestic demand, and the decline in investment, as well as the unjust sanctions imposed by the West, as the main obstacles the country’s economy is facing.
Iran exported $16.09 billion of non-oil products and imported $17.65 billion of non-oil products in the first four months of the current Iranian calendar year.
In comparison with the same period last year, the country’s non-oil exports and non-oil imports rose by 21.14 percent and 35.78 percent, respectively, according to the Iran Customs Administration.
Masood Ahmed, the director of the International Monetary Fund’s Middle East and Central Asia department, said on Sunday that President Hassan Rouhani’s policies of reducing energy subsidies along with the easing of international sanctions have helped to steady Iran’s economy and cut inflation.
“The process of stabilization has taken hold and we do see the results already in a dramatic improvement in inflation,” he added.
Inflation dropped to about 15 percent last month, according to the Central Bank of Iran, from a peak of about 45 percent reported by the IMF before Rouhani’s election last year.