iran needs 3050bn annual foreign investment
Last Updated : GMT 05:17:37
Emiratesvoice, emirates voice
Emiratesvoice, emirates voice
Last Updated : GMT 05:17:37
Emiratesvoice, emirates voice

President Hassan Rouhani:

Iran needs $30-50bn annual foreign investment

Emiratesvoice, emirates voice

Emiratesvoice, emirates voice Iran needs $30-50bn annual foreign investment

President Hassan Rouhani
Tehran - Arab Today

Iran needs annual foreign investment of $30-$50 billion to reach an eight percent growth target and cash in on a nuclear deal with world powers, President Hassan Rouhani said Sunday.
Laying out the budget for the next Iranian year which starts March 20, Rouhani told parliament, a day after the implementation of the historic deal, that the collapse in global oil prices meant the government had to look to abroad to boost the economy.
"Untapped potential in many industries indicates that domestic demand cannot solely push the economy toward eight percent growth," he said, signalling a shift in policy.
"Attracting foreign investment will be the best way of using the opportunity of sanctions relief to boost the economy and security."
Low oil prices and years of US and European Union sanctions that barred much of Iran's foreign oil sales hammered its income from crude.
But despite global prices falling below $30 Iran intends to increase production after the nuclear deal to recoup lost market share.
Rouhani's government used a projected $40 per barrel price and exports of 2.25 million barrels per day -- a doubling of current sales.
Even (Taiwan OTC: 6436.TWO - news) at that level Iran's budget would be less than 25 percent reliant on oil sales, with a much higher 68 percent of revenues coming from taxes.
A 75 percent drop in oil prices, from $110 to $30 meant "oil revenues would not be considerable," Rouhani said.
"Such drastic drop in oil prices has been unprecedented in the past decades and we cannot base economic growth and employment on optimistic estimations."
The International Atomic Energy Agency confirmed Saturday (Shenzhen: 002291.SZ - news) that Iran had carried out measures agreed under last July's nuclear deal, ensuring sanctions would be lifted.
As well as next year's budget Rouhani submitted the Islamic republic's sixth five-year development plan, based on policies set by supreme leader Ayatollah Ali Khamenei, Iran's ultimate authority.
"Reaching eight percent growth requires attracting $30-$50 billion in foreign investment each year," he said.
Iran's budget had been ready and printed for weeks, but Rouhani decided not to present it until the nuclear deal was implemented because it was based on sanctions being lifted.

Source: AFP

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

iran needs 3050bn annual foreign investment iran needs 3050bn annual foreign investment

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

iran needs 3050bn annual foreign investment iran needs 3050bn annual foreign investment

 



GMT 10:18 2016 Wednesday ,23 March

cartoon seven

GMT 17:24 2017 Thursday ,26 January

Cash crunch for anti-Armageddon asteroid mission

GMT 11:47 2017 Saturday ,23 September

Uber loses licence to operate in London

GMT 10:05 2017 Sunday ,31 December

Salah shines as Liverpool down Leicester

GMT 13:01 2017 Wednesday ,22 March

Spieth looking forward

GMT 23:52 2017 Wednesday ,14 June

Actress Horia Farghaly happy

GMT 11:20 2017 Thursday ,05 October

GEMINI (May22nd-June21st)

GMT 08:30 2017 Tuesday ,24 October

Iran's regional status has never been stronger

GMT 05:22 2015 Sunday ,01 March

'Jihadi John' contemplated suicide in 2010

GMT 22:21 2013 Sunday ,19 May

Dire outlook despite global warming \'pause\'

GMT 16:57 2013 Monday ,14 January

Early climate change signs in Australia

GMT 15:19 2015 Wednesday ,08 April

BMW to recall flawed vehicles in China

GMT 00:47 2015 Wednesday ,09 September

9781 pilgrims arrived in holy lands so far

GMT 14:24 2011 Thursday ,18 August

Spain in uproar over Barca-Madrid pitch violence
 
 Emirates Voice Facebook,emirates voice facebook  Emirates Voice Twitter,emirates voice twitter Emirates Voice Rss,emirates voice rss  Emirates Voice Youtube,emirates voice youtube  Emirates Voice Youtube,emirates voice youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©

emiratesvoieen emiratesvoiceen emiratesvoiceen emiratesvoiceen
emiratesvoice emiratesvoice emiratesvoice
emiratesvoice
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
emiratesvoice, Emiratesvoice, Emiratesvoice