TEHRAN, April 5, YJC - Director of Central Bank of Iran (CBI) Valiollah Seif said that the country’s economic growth is expected to reach 11 percent in the new Iranian calendar year (started on March 21, 2017).
TEHRAN, Young Journalists Club
(YJC) - He said the country’s rate of inflation turned out to be single-digit figures after 26 years.
In June 2016, Iranian inflation eased into single digits for the first time in a quarter century, delivering on a commitment made by Iranian President Hassan Rouhani and creating room to lower borrowing costs that have stymied growth.
The annual inflation rate fell to 9.5 percent from 10.2 percent in the Iranian calendar month ended June 20, the official Islamic Republic News Agency cited Vice President Mohammad Bagher Nobakht as saying. Banks including the state-run Bank Melli Iran reduced their one-year deposit rate to 15 percent from 18 percent.