Is'haq Jahangiri who was addressing a ceremony on the occasion of National Day of Exports on Tuesday, said that Iran’s oil production would see a 500,000-barrel rise per day, which he ensured that “soon, oil production will be increased to 2.5mn barrels per day,” ushering a new era of national economy.
“Some foreign delegations have visited Iran and their negotiations have paid off, with contract agreements signed so far; the first such agreements will channel €4.2mn into country’s power industry,” Mr. Jahangiri told the meeting. “JCPOA could have been approved earlier; however, we are happy that different opinions on the JCPOA were heard. In a poll eliciting public voice about the JCPOA after it had been approved by the Parliament, 90 per cent of the public vote for it and only 3 per cent opposed the JCPOA; while it was a voluntary agreement, some waged attempts to bring it to Parliament and went on the process of approval,” he asserted.
Jahangiri had a flash-back to times before 2013 presidential elections when analysts would have believed that even after 4 future presidents, no single UN resolution against Iran would be cancelled; “to their surprise, we are fortunate to see that a single resolution annuls all previous resolutions of the UN,” he rejoiced to say.
“Of more than $100bn frozen assets, some part had been used for financing and some contributed to oil and gas projects; if we assume that $30bn will be the unfrozen assets, all will be incorporated into national economy; I believe however that changing the lump sum to national currency would not positively contribute to economy, with only role in imports of goods and other investments in macroeconomics,” said the first vice-president.
“The economy is now grappling with chronic inflation and two-digit unemployment rate; the government has plans to finalize the implementation of Resistance Economic policies,” Jahangiri said.
Jahangiri also added that he had a major mission to boost exports; “the Executive Board of National Development Fund told me that they would provide necessary credits for exports in cooperation with the Export Development Bank of Iran. Official report by Supreme Audit Court indicates that in converting currency from dollar to rial, billions of dollars were squandered away, with only $12bn coming from National Reserve Fund to National Development Fund,” he detailed.
“Plummeting oil prices has taken heavy tolls on Iranian economy; with 90 per cent of the incomes being oil incomes which amounted to $118bn, we have staggering growth figure of minus 6.8 per cent; with less than $20bn in oil income, the tough times are ahead; however, the government has been working to save the current stability in the market from falling apart,” Jahangiri elaborated on the economic conditions.
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