Iranian MP dismisses CBI report on recession exit
A senior Iranian lawmaker has refuted a recent statement by the Central Bank of Iran (CBI) on the country’s exit from recession.
Chairman of the Parliament’s Economic Commission Arsalan Fathipour said Iran would exit recession once its industrial sectors register an output growth and operate at over 30 percent of their capacity, Tasnim news agency reported.
He said the Iranian administration managed to curb the inflation rate, but the economic recession still exists.
A CBI official said late January that the Iranian Central Bank expects its annual inflation to stand between 13 and 14 percent for the Persian calendar year that starts March 21, 2015.
The CBI had previously said that Iran’s annual inflation had reached 16.3 percent.
Curbing inflation was one of promises by President Hassan Rouhani during his 2013 election campaign. Under the previous administration, inflation had topped 44%.
However, the country has reportedly remained in recession over the past few years.
On Monday, the governor of the Central Bank of Iran, Valiollah Seif told reporters that the country’s economic growth indicated its exit from recession.
Last September, the CBI released positive figures on economy, showing it expanded 4.6 percent in the first quarter of the current Iranian calendar year (started March 21, 2014).
The figures showed Iran’s agriculture, oil, mine and industry sectors posted positive growth rates of up to 8.1 percent during the period.
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