The sports category has moved to a new website.
ADVERTISEMENT

Rouhani sees major economic growth next year

Iran's President Hassan Rouhani promised high economic growth as he laid out next year's budget on Sunday, despite uncertainty over whether the United States will pull out of the nuclear deal.

Presenting the budget to parliament, Rouhani said overall economic growth would hit 6.5 percent in the fiscal year starting in March 2018, and seven percent with the oil sector excluded.

Significant economic growth was a cornerstone of Rouhani's campaign when he was re-elected in May.

The government has also forecast 6.5 percent growth for this year but other estimates have been less optimistic.

ADVERTISEMENT

Parliament's research centre has said Gross Domestic Product will grow by only 3.9 percent this year, while the International Monetary Fund forecasts 3.5 percent in 2017, 3.8 percent in 2018 and four percent in 2019.

Rouhani's first term from 2013 to 2017 was marked by the conclusion of the nuclear agreement with world powers in July 2015, which the president vowed would boost the economy by ending Iran's international isolation.

But major economic improvements have yet to materialise, with foreign investments limited due to fears of US President Donald Trump abandoning the nuclear deal and the return of the economic and financial sanctions that were lifted under the accord.

Unemployment remains high and the IMF estimates it will reach 12.7 percent for 2017. It also says inflation may hit double digits this year as the rial slides against the US dollar.

JOIN OUR PULSE COMMUNITY!

Unblock notifications in browser settings.
ADVERTISEMENT

Eyewitness? Submit your stories now via social or:

Email: news@pulselive.co.ke

Recommended articles

MP turns to gen z for help in tracing Justin Muturi’s son allegedly abducted by police

MP turns to gen z for help in tracing Justin Muturi’s son allegedly abducted by police

Government links gen z protests to Russia-Ukraine conflict & 4 issues championed by Ruto

Government links gen z protests to Russia-Ukraine conflict & 4 issues championed by Ruto

2 Reasons Kenyans may fail in recalling members of parliament

2 Reasons Kenyans may fail in recalling members of parliament

Finance Bill 2024 demos: Another protester aged 21 dies in hospital

Finance Bill 2024 demos: Another protester aged 21 dies in hospital

Daughter recalls last conversation with Magistrate Kivuti who was killed on her birthday

Daughter recalls last conversation with Magistrate Kivuti who was killed on her birthday

#FreeBilly: Fireworks as over 50K Kenyans join X Space to demand release of arrested influencers

#FreeBilly: Fireworks as over 50K Kenyans join X Space to demand release of arrested influencers

Safaricom announces planned disruption of all M-PESA services

Safaricom announces planned disruption of all M-PESA services

List of MPs & CS whose speeches have been cut short after Thursday Finance Bill protests

List of MPs & CS whose speeches have been cut short after Thursday Finance Bill protests

Patrick Mwalua: Waterman of Tsavo nickname, health challenges, family's appeal for &  wife's vow

Patrick Mwalua: Waterman of Tsavo nickname, health challenges, family's appeal for & wife's vow

ADVERTISEMENT