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Iran seeks to cut imports in order to cope with sanctions

26 August 2010

Iran is seeking to cut unnecessary imports to boost domestic production in response to international sanctions, Mehr news agency has reported. Arsalan Fathipour, head of the country's parliament has said that the national economy could face serious problems if the quality of domestic products is not improved and the consumer prices are not lowered. The central bank also said that the nation should limit imports to "necessary goods" to help lift domestic production and reduce the amount of hard currency exiting the country.

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