Iran Eyes Economic Growth of 8% in Its 5-Year Development Plan

Iran has set a target to reach an average economic growth rate of 8% between 2023 and 2028 as part of a new vision plan unveiled by the government.

“One of the main goals and fundamental priorities of the five-year 7th Development Plan is (to attain) progress accompanied by justice with an average economic growth rate of 8%,” said an analysis by the official IRNA news agency published on Sunday.

Iran’s new economic vision plan was unveiled on Saturday by Iran’s Planning and Budget Organization (PBO), more than a year after the country's 6th Development Plan expired in March 2022.

Five-year vision plans set out general guidelines and targets for economic growth in Iran. Successive governments and the parliaments in the country are required to adopt policies and implement actions that do not violate the provisions and targets included in the development plans.

The IRNA report said that Iran’s seventh vision plan contain major economic reform measures that are mostly focused on boosting manufacturing and agriculture activities in the country and creating added value in services and technology sectors.

It said the plan also sets out targets for bringing down Iran’s inflation rate to around 9.5% and provides measures for better management of the country’s money supply and hard currency revenues. - Press TV