Baku, Azerbaijan, July 26
By Fatih Karimov - Trend:
Industrial investment in Iran rose 27 percent in spring 2014 compared to spring 2013.
More than $450 million was invested in industrial projects in the country in spring 2014, the IRIB reported on July 26.
The US exchange rate in Iran is currently about 31,000 rials.
Industrial units in the country created 10,837 jobs in the 3-month period.
On June 14, Iranian deputy industry minister Hossein Ayyoubi Mehrizi said the industrial growth rate was minus 9.5 percent in Iranian year 1391 (March 2012-March 2013).
Iran's industrial growth rate is expected to hit 3 percent in the current year.
The Iranian calendar year starts on March 20.
The industrial growth rate stood at nearly zero in the past year, he added.
Iran's gross domestic product (GDP) will grow by 1.5 percent in 2014, according to the World Bank's newly-released Global Economic Prospects report.
Iran's GDP growth is forecasted to reach 2 percent and 2.3 percent in 2015 and 2016, respectively, the World Bank's latest Global Economic Prospects report, issued on June 10 said.