CBI chief hails Iran’s economic achievements

EghtesadOnline: Central Bank of Iran (CBI) Chief Valiollah Seif on Saturday hailed Iran’s economic achievements during the period of low oil prices.

News ID: ۷۳۷۵۱۶

16 October 2016

The International Monetary Fund and the World Bank are surprised by Iran’s economic achievements, including its success to lower inflation rate from 40 percent to less than 10 percent, Sief said during a meeting with local officials in northwestern province of Qazvin.

While Iran’s economy is growing, many countries are faced with economic crises as a consequence of falling oil prices, IRNA quoted him as saying.

Iran achieved 5.4 percent growth in the first quarter of this Iranian calendar year which is a positive sign of improvement for the Iranian economy, he said.

Referring to the country's stable currency market, the official said that the Central Bank will continue the policy of controlling the prices and preventing turbulence in the currency market.