News ID: 315002
Published: 0155 GMT July 25, 2021

Rouhani lauds administration’s performance under unprecedented economic war

Rouhani lauds administration’s performance under unprecedented economic war
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Iranian President Hassan Rouhani addresses the 61st annual assembly of the Central Bank of Iran in Tehran on July 25, 2021.

National Desk

Iran’s President Hassan Rouhani said although the economic war waged by the enemy on the Islamic Republic since 2018 has been unprecedented in history, the government has managed to run the country successfully.

No precedent can be found throughout history for the US move of completely prohibiting oil imports from a country and blocking that country’s banking transactions and financial assets, Rouhani said in an address to the 61st annual assembly of the Central Bank of Iran on Sunday, IRNA reported.

In May 2018, under former president Donald Trump, the US pulled out of the Joint Comprehensive Plan of Action, signed between Iran and the P5+1 in July 2015, and reimposed its unilateral sanctions on Tehran in a bid to bring the Islamic Republic to the negotiating table and hammer out a new nuclear deal.

Mainly targeting Iran’s oil and banking sectors, the sanctions, being part of the Trump administration’s “maximum pressure” campaign against Tehran, failed to produce the desired results thanks to the Iranians’ resistance.

Rouhani noted that, however, despite all the restrictions, the government has managed to run the country successfully and purchase sufficient amounts of essential goods.

He said that in the aftermath of the reimposition of the sanctions, the government implemented effective measures aimed at substituting the country’s oil income through boosting non-oil exports, adding the CBI played a very significant role to this end.

Rouhani said in spite of the tough circumstances the country was under, in 2019, the government managed to resolve almost all economic problems, regretting that, nevertheless, in late February 2020, “we faced the outbreak of the COVID-19 pandemic”.

Commenting on his administration’s response to the pandemic, the president noted that the number of hospital beds across the country has increased more than twofold over the past 18 months, and loans have been granted to COVID-hit businesses since the outbreak.

He described as favorable the situation and pace of the process of public vaccination against COVID-19 in the country.

Rouhani said in the previous calendar year, which ended on March 20, Iran’s economic growth was 3.6 percent, an achievement in which the government takes pride and made under the toughest circumstances and an economic war.

According to statistics, he noted, during late March-late June, 2021, Iran’s exports and imports grew by 69.2 percent and 37 percent, respectively, year-on-year, adding that a balance has been created between the country’s exports and imports.

The president said during his two four-year terms in office, under no circumstances did his administration borrow money from the CBI, always seeking to maintain its financial discipline, which is very important in controlling inflation and the monetary base.

He noted that during 2014-17, an average of 550,000 jobs were created each year, and inflation remained below 10 percent.

Rouhani said at the beginning of the tenure of his first administration in 2013, Iran’s economic growth was -7.7 percent, adding the significant decrease in the oil price in 2015 gave the government a tremendous shock, as crude value dropped from $104 per barrel in 2013 to about $30 a barrel.

He added that despite all this, in 2016, Iran witnessed an economic growth of 12.5 percent.

 

 

 

   
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Resource: IRNA
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