Tehran, June 6, IRNA - Economy Minister Ali Tayyebnia said here on Monday that Iran's economy will grow five percent in 2016-2017.
 
Tayyebnia made the remarks in his report to Iranian new parliament on the country's economic situation.

He reiterated that this year could be considered as a turning point for ending the country's slow economic growth and accelerating the economic progress nationwide.

Touching upon Iran's positive economic landscape, he added the international economic organizations and experts are also optimistic about the country's economic progress.

The Iranian minister also cited the continuous dependence of the economy on oil as the major challenge facing the country.

He added the country has rapidly managed to increase its production and export capacities in the oil field and is exporting over two million barrels of oil per day.

By IRNA