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Ali Larijani:

80 percent of country's problems come from management

Service : Politic
Tehran, Oct 2, (ICANA) – Majlis Speaker Ali Larijani says that about 80 percent of country's problems come from improper management.
Tuesday, October 02, 2012 4:43:03 PM
80 percent of country's problems come from management

"The other 20 percent of problems are the result of the international embargo," Larijani said in an interview with Fars News Agency.

The Speaker was commenting on U.S. State Department spokesperson Victoria Nuland's words regarding Iran's economy suffering big time from the impact of the imposed sanctions.

Ali Larijani said that the country has more important problems than international sanctions.

"The liquidity in the country has rapidly increased by 83 percent in the last 7 years," Larijani said. "This increase means that no investments are possible, production has slowed down, inflation has started to grow. As a result of this, wrong decisions are being made, and wrong steps are being taken."

Larijani noted that banks' debts to Iran's Central Bank have increased 3 times, and they cannot be paid, adding that as a result of this, financial indiscipline occurs.

"How is that connected with imposed sanctions," Larijani asked. "It doesn't have anything to do with international sanctions."

Larijani said that the authorities made a mistake by investing foreign currency into "Maskan-e Mehr" house-building program.

"While housing is an important factor, if there is no balance, economic problems arise," Larijani noted.

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