Iran Stimulus Plan Approved As Debt Piles Up

Iran’s parliament has approved a bill to implement a stimulus plan announced by President Hassan Rohani, aimed at reviving the sluggish economy, local news agencies reported on 17 August.

The Iranian economy has been suffering under years of US and EU sanctions, which weakened the national currency, hit state revenues and pushed up living costs that were already soaring after the previous administration began removing energy and food subsidies at the end of 2010.

And while there have been some signs of recovery since the signing of an interim nuclear deal with the P5+1 group of world powers last November, the fact remains that the country still has a long way to go before real results can be seen. (CONTINUED - 773 WORDS)