Iran's President: Inflation Rate Reduced to 17%

Hassan Rouhani, the President of Iran, stated that his government has managed to reduce the inflation rate from over 40% to 17% during its 16 months in office. The Mehr News Agency published Mr. Rouhani's remarks on Wednesday, December 3, during a gathering of people in Birjand, where he claimed that the "economic boom and prosperity" of the country has begun. According to him, when the eleventh government started its activities, "inflation was above 40%", but now, "with the planned measures and actions taken, we have managed to bring inflation down to 17%". About two weeks ago, while presenting his second budget bill to the Islamic Consultative Assembly, Mr. Rouhani mentioned that the government is working to bring the inflation rate below 20% by the end of the current year. Earlier in early September, he emphasized that inflation has been "controlled" and reached 23.2%, while the government's forecast was that the 12-month inflation rate would reach 25% by the end of the current year. Hassan Rouhani also addressed the country's economic growth, stating it was 4% for the first six months of the current year. He said, "Overall, we had a 4% economic growth in the first six months of the year, whereas our economic growth in 2012 was negative 6.8% and in 2013 it was less than negative 2%". According to the President of Iran, "When a country experiences six months of economic growth, it signifies the beginning of economic prosperity, which we have also achieved". The latest report from the Central Bank of Iran on the country's Gross Domestic Product was published on December 2, indicating that in the first six months of this year, it reached 1,022,808 billion rials, which, according to the bank, represents a 4% growth compared to the first six months of last year. In early September, the Iranian Minister of Economy stated that the country's economic growth had finally turned positive after two years, but did not announce the exact figure. At that time, Mohammad Baqer Nobakht, the government spokesman, said that the economic growth was about half a percent. In this context, the Iranian Vice President stated that current expenses will swallow the entire budget in four years. "50%" reduction in the inflation rate in the 12 months ending in September. The Iranian government's response to criticisms regarding the calculation of positive economic growth. Control of food price growth at the level of 3%. Khavand: Rouhani is five months ahead of his promise in controlling inflation. "Inflation rate could rise to 36% in case of negotiation failure".