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                                        Volume. 12114

IMF says Rouhani has stabilized Iran’s economy
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c_330_235_16777215_0___images_stories_edim_01_IMF(1).jpgThe International Monetary Fund said 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,” Masood Ahmed, director of the IMF’s Middle East and Central Asia department, said.
 
Iran’s $400 billion economy is forecast by the Fund to expand 1.5 percent this year, after two years of contraction. 
 
Ahmed said that the lifting of some sanctions under a preliminary nuclear accord reached in November has helped the recovery, though he said growth is still “not what it needs to be to meet the aspirations of the Iranian people.”
 
Inflation dropped to about 15 percent last month, according to Iran’s central bank, from a peak of about 45 percent reported by the IMF before Rouhani’s election last year, partly driven by cash subsidies handed out under Rouhani’s predecessor, Mahmoud Ahmadinejad. The new government has begun to scale back those payments.
 
(Source: Bloomberg)

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