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In August 2013, when Hassan Rohani became Iran’s head of state, he promised to mend the economy and in particular to lower the (official) inflation rate from over 40% to around 25%.
One year on, while inflation is easing, the country’s overall economic
According to latest figures from the Statistical Center of Iran, the rate of inflation for the year ending with the Iranian month of Tir on 22 July fell to 24.2%, , down from 26.4% a month earlier. Mr Rohani’s government has also managed to stabilize the value of the Iranian rial at a free market rate of around $1= IR32,000. The currency had been in free fall under former president Mahmoud Ahmadinejad. (CONTINUED - 753 WORDS)