February 11, 2019 09:30
News ID: 4234

(Persia Digest) - The Research Center of Iran’s Islamic Legislative Assembly has recently published a report on oil forecasts for 2018-2019, announcing that Iran’s economic growth in 2019 will be negative. The Economist has also painted a bleak future for Iran in 2019. Nevertheless, Iran’s Minister of Finance has said that 2019 will not see a negative economic growth.

Dr Hossein Raghfar, Professor of Economics at Al-Zahra University in Tehran, told Persia Digest (PD) in an interview: “The current economic situation in Iran is more linked to domestic issues than to sanctions; because our officials must be perfectly aware of having to face sanctions, but unfortunately existing policies for this and its consequences in the Iranian economy are very inadequate.”

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He described the main problem of the economic situation as domestic, adding: “In my opinion, the sanctions can only work when there is no suitable plan to counter them. Unfortunately, the government’s current policies mean we will face more difficulties in the future. We have suitable opportunities to face the sanctions, but economic orientations that seek to preserve the interests of rich groups and large industries prevent an effective confrontation.”

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Raghfar underlined the high unemployment rate and inflation in Iran, saying: “Officials must adopt a different approach to face the sanctions. Otherwise, the continuation of current policies will only deepen the stagnation and increase inflation followed by unemployment, with all of this leading to a negative economic growth.”

The economist wrapped up by emphasizing that calculations show a negative economic growth for Iran in 2019 and there is no need to refer to The Economist magazine for this.

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