Sale of 2.5mbd by Iran, JCPOA Outcome: Speaker

Speaking on Monday, Larijani said the rise in the country’s crude oil exports has been a main lever in realizing the targeted 5% economic growth in the current Iranian calendar year which began on March 20, reported IRNA.

He said the country would need over $200b in foreign investment if it is reach the envisaged 8% economic growth. 

Iran’s 20-years outlook document has predicted a 12% economic growth for the country, however, which is pretty hard by 2025, he said. 

The official said opening up of foreign credit lines by foreign banks is a perfect opportunity for Iran which can be used for bolstering various sectors including industries, transportation, tourism and the environment protection schemes. 

“For example, the Russian government has earmarked a $5b loan to Iran which will be used for enhancing the country’s public transportation and subway systems,” he added.