TEHRAN - Although Iran’s economy has not been expanding quite fast in 2015, it is expected to soar in 2016, experiencing a projected growth of 5 percent, the IRNA News Agency quoted Central Bank of Iran Governor Valiollah Seif as saying.
Talking on the sidelines of the Annual Meetings of the World Bank Group and the International Monetary Fund, Seif noted that Iran’s nuclear pact with major powers will bring about positive outcomes both regionally and globally and allow Iran to resume its oil exports, attract foreign investment, and establish economic cooperation with all countries of the world. “It stands to reason that a change in the international atmosphere will give us the opportunity to accelerate economic reforms”, Seif was quoted as saying. According to Seif, adoption of appropriate fiscal and monetary policies has helped Iran reduce inflation rate from 40 percent in 2013 to less than 15 percent in 2015.