Energy Supplies, Gov`t Intervention Underpin Iranian Economic Certainty

MOSCOW (Sputnik) — There are a number of factors that bode well for economic stability in post-sanctions Iran, including the democratic approach to the economy and the government's genuine interest in economic development, acting Deputy Petroleum Minister Masoud Hashemian Esfahani said Wednesday.

"The government warranty for direct investments, [include] economy stability, easy access to ample oil and gas supplies, discount prices for oil and gas as raw materials…, avoiding any discrimination among investors are reasons for certainty in the Iranian economic environment, " Esfahani told reporters in Moscow.

In mid-2015, Iran and the P5+1 group of international mediators, comprising Russia, China, the United States, France, the United Kingdom and Germany, signed an agreement, according to which Iran pledged to guarantee the peaceful nature of its nuclear activities in exchange for sanctions against it being lifted.

In mid-January, the European Union and, in part, the United States, removed the economic sanctions in place against Iran after the International Atomic Energy Agency (IAEA) verified Tehran’s compliance with the nuclear agreement.

Last month, as the sanctions were being lifted, the country's authorities used the Davos Economic Forum as a platform to remind the world of the opportunities offered by the Iranian economy.

Iranian officials forecast that the country's economy is expected to grow after the lifting of the international sanctions at an annual rate of least 5 percent.