Rouhani foresees 'economic boom' in post-sanctions Iran

Iran to enjoy stepped-up production in coming months amid post-sanctions ‘economic boom’, President Hassan Rouhani tells Iranian public

Rouhani foresees 'economic boom' in post-sanctions Iran

World Bulletin / News Desk

Iranian President Hassan Rouhani has told Iranians to brace for “an increase in [domestic] production and an economic boom” in a post-sanctions era, which, he predicted, would begin “in a month or two”. 

“Sanctions [on Iran] will be lifted and we will see the effects of this on our economy,” Rouhani told Iran’s IRIB’1 TV during a live interview on Tuesday.

He went on to say that implementation of July’s landmark agreement between world powers and Iran -- which calls for the removal of longstanding sanctions on the latter -- would go into effect next week.

The president’s official website quoted Rouhani as saying that all parties to the agreement should take part in the implementation process and prepare all necessary legal formalities within the next one or two months to ensure that the sanctions -- which have deeply impacted the country’s economy -- are lifted.

“We will have a much better [economic] condition next year,” he said. “That is why the world is rushing towards Iran.”

While foreign entrepreneurs were welcome to invest in post-sanctions Iran, Rouhani stressed, they would be expected to meet certain conditions.

“We will give them [i.e., foreign investors] a part of our domestic market in return for [our] having a part of the regional and international market,” he said.

Iran’s total oil income is expected to amount to some $25 billion this year, the lowest figure within the past decade due to falling international oil prices.

Next year, however, Rouhani said, would be characterized by the lifting of sanctions on Iran and the “liberation” of the country’s resources.

“One of the important points in the nuclear negotiations [that led to the agreement] was economic issues,” he said. “The economy and sanctions were the enemy’s trick to put pressure on the Iranian people.”

On Tuesday, Iran’s parliament approved the nuclear agreement with 161 votes in favor and 59 against, while 13 MPs abstained from the vote.

President Rouhani thanked the country’s supreme leader, Ayatollah Ali Khamenei, and praised the assembly for ratifying the deal.

On July 14 of this year, Iran and the so-called P5+1 group (the five permanent members of the UN Security Council plus Germany) signed a final nuclear agreement, also known as the Joint Comprehensive Plan of Action. 

According to the terms of the deal, Tehran will limit some of its nuclear activities in return for having longstanding sanctions on the country lifted.

Following the removal of sanctions, Iran hopes to raise national oil and gas production through an anticipated influx of foreign investment with a view to boosting energy exports, thereby increasing national revenue.

Güncelleme Tarihi: 14 Ekim 2015, 16:28