Iran’s inflation rate expected to fall in 2016
Iran's inflation rate is expected to fall to 15 percent in Iranian year of 1395 (March 2016-March 2017).
Mohammad-Ali Najafi, advisor to Iranian president Hassan Rouhani, said the country's economic growth rate is expected to hit two percent and four percent in the next two years, and the inflation rate is expected to fall below 15 percent, Iran'sFars news agency reported on August 9.
The current Iranian year started March 21.
The national economy was contracted over the past two years, he added.
Eight countries had the inflation rate of over 10 percent, according to the International Monetary Fund.
Iran ranked second after Venezuela in the ranking, Najafi stressed.
President Hassan Rouhani said on August 8 that the country's inflation rate has dropped below 25 percent.
He said he has promised that the inflation rate will fall to 25 percent in the current year, but the current inflation rate is already below 25 percent.
Rouhani added that he will announce the new inflation rate next week.
He also said that the economy will not contract in the current year.
When Rouhani took office in August last year, the Central Bank of Iran (CBI) had put the inflation rate at 45 percent.
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