Seif said that Iran's economy is projected to grow by 3 percent this year, Bloomberg reported.
“The economic situation in Iran is on the mend,” he further added.
“The economic program we have right now is based on the fact the sanctions will continue, so this is a given assumption,” Seif said. “Naturally, if sanctions are removed, we would experience much better results.”
The central bank is targeting an inflation rate of 17 percent this year and 14 percent in 2015. By 2016, the bank hopes price growth will fall to the single-digit range, said Seif.
Analysts believe that a rise in production of goods and services has attracted liquidity to these sectors and led to the new fall in inflation rate.