TEHRAN- President Ebrahim Raisi has defended the government's economic record, saying attracting $5.16 billion in domestic and foreign investment during the first 10 months of the administration is an indication of economic stability.

Addressing the cabinet's Sunday session, he said it is an honor that government’s economic team has been able to successfully attract such amount of money in domestic and foreign investment in 10 months. 

Raisi stated that increasing production is a top priority of his administration, citing the efforts by the first vice president and other concerned officials to bring hundreds of idled and inactive large and small industrial units back to operation over the past ten months across the country.

“The government’s efforts are aimed at reviving the economic units at lowest possible cost,” he added.

The president also praised the government economic team's efforts to reduce point-to-point inflation, highlighting the need for more in-depth discussion between economic professionals and the general public.

“The people should be informed that despite reforms in allocation of subsidies, the inflation rate is now under the control of the government,” Raisi pointed out.