Economy and Finance Minister Ali Tayyebnia expressed hope in a meeting with European ambassadors on Sunday that the level of Iran-EU economic cooperation will soon return back to the satisfactory level.
Tayyebnia presented maladies of Iranian economy and said that there is lack of balance in Iranian economy created by inflation and printing of paper money by the former government without adequate reserves.
The meeting was organized as per a request made by the EU ambassadors to Tehran aimed at getting better acquainted with the Iranian economy.
'Through adopting appropriate economic policies and harmonizing with various economic sectors the 40% inflation inherited from the former government was lowered to less than 16% in winter of 2014, although the government targets to bring down the inflation to a single digit,' he said.
He said that the government's other economic priorities include detaching the Iranian economy form oil incomes and allocating the oil revenues to investments in industrial and job-creating projects.
Tayyebnia reminded the EU ambassadors that Iran is the largest market in the region with broadest investment capacities for foreign investors, and especially the Europeans.
Tayyebnia noted that the incumbent government has engaged the private sector in all fields of the Iranian economy to an extent that is unprecedented in Iran.