Rouhani Predicts Shining Growth After Removal of Sanctions

Rouhani Predicts Shining Growth After Removal of Sanctions
Wed Oct 14, 2015 10:48:04

President Hassan Rouhani predicted that with the removal of sanctions following implementation of the nuclear Joint Comprehensive Plan of Action (JCPOA) in few weeks, Iran's economy will see shining prospects next year and register sustainable growth.

President Hassan Rouhani on Tuesday introduced general facets of the new economic policies package which will center on demand grow, rise in production, banking facilities, inflation control, and foreign investment.

In a televised interview carried on the national Channel One, he defended performance of his government in the past two years saying it was achieved despite of pressures of unprecedented banking, commercial, and diplomatic sanctions against Iran's peaceful nuclear program.

Saying that Iran's dependency on oil revenues was used as a leverage to force it to stop its civilian nuclear program, the president said, 'We used the economy to give them the message that unlike their assumption, we could manages economic foes and step out of recession.'

"'Moving on the right economic path, we gave the right signal to the world. Therefore, the opposing party in the nuclear negotiations felt that the threat of sanctions was not working. '"

Referring to the plummeting crude oil prices in the global market as a calculated move to negatively influence Iran's economy during the talks, he added, it only led to prolonging the negotiations for another seven months.

'However, it backfired. The value of currency of some of the countries involved in the project to pressure Iran was halved. Those involved in the plot had to tap their currency reserves and issue bonds to save their economies,' President Rouhani said without disclosing the name of the regional countries behind the project.

He predicted that with the removal of sanctions following implementation of the nuclear Joint Comprehensive Plan of Action (JCPOA) in few weeks, Iran's economy will see shining prospects next year and register sustainable growth, IRNA reports.

In the coming week, Rouhani said, cabinet ministers will explain details of the economic policies which will concentrate on demand grow, production rise, lower-interest banking facilities, inflation control, fighting corruption, and attraction of foreign investment.

On foreign investment in the wake of the removal of sanctions, while sympathizing with the apprehension over their likely negative impact on domestic economy, he said government will continue its support to the Iranian business people and commercial activists.

"'International cooperation will be very useful too. After sanctions are lifted, we can walk to the international cooperation and competition.'"

He also stressed that joint ventures are required to move the economy forward such as the petrochemical industry which is in need of 70 billion dollars of investment not be met by domestic resources.

'Economic growth was our prime objective during the nuclear negotiations. The best way to insulate enemy's infiltration is economic security and power,' he concluded by wishing welfare and bright future for the people of Iran.

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