Ahmadinejad defends economic policies

Tehran: President Mahmoud Ahmadinejad defended his unpopular economic policies on Sunday, rejecting a letter signed by 60 Iranian economists that blamed the hardline leader for skyrocketing inflation, state-run media reported. Several newspapers published the letter yesterday's editions from the independent economists that said Ahmadinejad's "interaction with the outside world" has deprived the country of foreign investments and his policies have pushed inflation to 30 per cent.In response, Ahmadinejad criticised those in Iran who he said are trying to push for American economic polices in the Islamic republic. He was not more specific."Some have tried to propose an economic plan, which is used in the US, as a theory in Iran," the state-run news agency, IRNA, quoted Ahmadinejad as saying.He said Iran needs a local plan for developing its economy.Ahmadinejad, whose popularity has declined amid increasing economic difficulties in Iran, also defended his proposal to replace subsidies in Iran with cash payments that individuals can use to purchase goods."Now is the best historic opportunity for applying" the plan, state TV quoted the president as saying.

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