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News number: 8901220584

11:31 | 2010-04-11

Economy

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Iran's Inflation Rate Falls

TEHRAN (FNA)- Iranian Finance Minister Shamseddin Hosseini announced that the inflation rate in the country has decreased during the last Iranian year (ended on March 21).



The minister stated that Iran's inflation rate dropped to 10.8 percent.

He further announced that the country's economic indicators have improved over the last year, despite the global economic crisis.

Different economic indicators, including those defining the inflation rate, stock exchange, exports, and imports improved over the last Iranian year (that ended on March 21), Hosseini stated.

The value of its non-oil exports increased by 17 percent last year, the minister added.

Hosseini noted that foreign investment, especially by Iranians abroad, should help Iran to meet its need for financial resources.

The Iranian minister also called for the elimination of bureaucratic complexities hindering foreign investment.

Hosseini also noted that Iranian banks are allowed to establish foreign branches if such a decision is authorized through a bill presented to the parliament.