Iran allocates $37 billion to job creation plans

Iran’s High Council of Employment has approved allocating 45 trillion rials (some $37 billion) to job creation plans this year, which began on March 20, the deputy cooperatives, labor, and social welfare minister says.


The approval came after negotiations with the central bank and the Ministry of Finance and Economic Affairs, Mohammad-Hossein Forouzanmehr told the Mehr News Agency.

Forouzanmehr also said the Statistical Center of Iran has confirmed that some 1.6 million jobs were created during the last Iranian year, which ended on March 19.

The unemployment rate in Iran stood at 12.3 percent last year, showing a 1.2 percent fall compared to the year before, the SCI reported on Saturday.

According to the SCI, the number of jobless individuals has fallen to 2.8 million from 3.2 million, year on year.

Vice Majlis speaker Mohammad-Reza Bahonar had claimed to keep the current unemployment rate steady some $200 billion should be invested to create one million jobs annually.

“In the most optimistic case, all the money which would be allocated to job creation will not exceed 80 billion dollars. So, to create one million jobs annually, the country faces a $120 billion deficit,” Bahonar told ILNA news agency in February.

Cooperatives, Labor, and Social Welfare Minister Abdolreza Sheikholeslami has said that the country plans to cut its unemployment rate to seven percent by the end of 2012, in line with the Fifth Socio-Economic Development Plan (2010-2015).

The ministry has proposed a plan for sending up to 100,000 laborers to abroad by 2015 in a bid to ease unemployment.

Eighteen countries have been identified as the targets for the Iranian workforce.

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