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| Low growth main challenge of Iran’s economy: fin min |
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TEHRAN - Low economic growth rate is currently the main challenge in the Iranian economy, Iranian Finance and Economic Affairs Minister Ali Tayyebnia stated.
Tayyebnia referred to high unemployment as another serious concern, ISNA reported on Sunday.
For the time being, some 3.5 people are jobless in the country, he said, adding that the figure will soar to 8.5 million, because a large number of educated youth will be graduated from universities soon and will seek jobs.
The ministry will focus on improving the living standards through curbing inflation and flourishing businesses, he stated.
The International Monetary Fund has said the country's gross domestic product is forecast to shrink 1.3 percent this year after contracting 1.9 percent last year.
But the IMF also predicted GDP would resume expanding in 2014, at a pace of 1.1 percent. This suggests the economy will be able to find domestic sources of demand to at least partly compensate for its damaged export industries.
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