Iran government’s economic fight
The administration of Iranian President Hassan Rouhani has sent a new economic policy package to the parliament to pull the country out of recession.
A year ago, in August, President Hassan Rouhani took office as the seventh president of Iran. His cabinet issued a brief report of the economic situation after the cabinet started its meetings.
Nearly 100 days later, the administration released a detailed report on the economic trends in the country.
The inflation rate was high. The economic growth rate showed negative numbers.
Economic officials declared that the country has slid into a recession. The government has adopted contractionary policies and managed to reverse the galloping inflation of over 40 percent.
While the prices are growing with a slower pace, Iranians are complaining about their low purchasing power due to their low income. That is why the administration has introduced an economic policy package to boost domestic production.