Industry min.:

Iran’s economy has grown immune to US sanctions

Iran’s Minister of Industry, Mine and Trade Mohammad Shariatmadari said Wed. that the new US sanctions will not seriously affect Iran’s economy as it has grown immune to it.

News ID: 70322

Date: 23 May 2018 - 19:05

TEHRAN (Defapress) – Speaking to reporters in Tehran after a cabinet meeting, and in response to a question about how the US sanctions affect Iran’s economy, Shariatmadari said that Iran is pursuing the policies of Resistance Economy in line with the guidelines of the Islamic Revolution Leader to tackle the foreign pressures. He added that the domestically produced goods meet a large part of the internal demands.

“Today, in a significant portion of the economy, we do not need external [equipment], and domestic capabilities are sufficient to meet the [internal] needs,” Shariatmadari underlined.

The Iranian industry minister went on to add, however, that "we may face problems in some part of the industry which is dependent on the outside world."

He called on the Iranian state TV not to advertise foreign products, stressing that domestically produced goods must be advertised at the right time in the most popular TV programs as far as possible free of charge or at the lowest prices.

The minister noted that during the first two months of this Iranian year, Iran’s non-oil exports grew by 28%, while imports fell by 1.7%.

He further maintained that Iran has increased the steel production to 200 million tons now, which is 80 million tons more than 5 years ago.

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