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 Seventh Plan of Development 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 Plan and Budget Organization (PBO), more than a year after the country’s Sixth Plan of Development 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 report said that Iran’s seventh vision plan contains major economic reform measures that are mostly focused on boosting manufacturing and agriculture activities in the country and creating added value in the 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.