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Monday, 14 March 2011 11:07

Iran's economy dynamic despite US sanctions

Iran's economy dynamic despite US sanctions

Iran is going through the waning days of the current year while despite the Western media's propaganda and disinformation campaign, Islamic Iran has passed a year full of major accomplishments, and is experiencing a dynamic and growing economy despite the global economic meltdown.

Meanwhile, President Dr. Mahmoud Ahmadinejad, during the Cabinet meeting with the nationwide governors general on Sunday, referred to part of measures taken by the government in the current year and pointed out that despite the anti-Iran sanctions, wide-scale measures such as the subsidies reform act was implemented in Iran's economy; 1.6 million jobs were created; and, major projects such as Mehr Housing Project, which is directly linked to promotion of people's welfare, were developed.

The spring of the current Iranian calendar year was concurrent with intense pressures on Iran's economy, issuance of UN Security Council Resolution 1929, and illegal measures of the US Treasury and a few Western states. The US wrongly imagined that it could stir an impasse for Iran. However, Iran's economic performance in the current year showed that US ominous efforts have been an utter failure.

The significant rise of Iran's non-oil exports in the current year, and the 70% growth of stock market and capital market indices are the signs of dynamism of Iran's economy. According to Iran's Minister of Finance and Economic Affairs, Seyed Shamseddin Husseini, Iran's export revenues in the current year have grown by 21% compared to the same period in the preceding year, which marks a major achievement and success for Iran's economy.

Severance of dependence on fuel products was another major step that was accomplished with the hard efforts of the experts in Iran's oil industry, and with implementation of the subsidies reform act and management of the energy consumption. In fact, currently, Iran has attained the capacities for surplus production and export of different fuel products.

The Publication "Mid" has recently assessed Iran's economy and has reported that in the year 2010 Iran's economy held the 4th spot in the region in regard to volume of projects that have been planned and are underway. In fact, the volume of Iran's planned and underway projects have experienced a $2bn rise, totaling $315.8bn, manifesting a 0.7% growth throughout the past year.

Moreover, based on the world development report, linked to World Bank, of 15 economic indices studied, Iran's performance in recent years has been positive in regard to 13 indices.

The fact of the matter is that in the past three decades the US, through imposition of different sanctions, has been intent on somehow isolating Iran. But, currently, the political and economic observers admit that Iran's economic strength and presence in regional and global markets has significantly improved and cannot be compared to 32 years ago.

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