Tehran, Iran, Sept. 30
By Milad Fashtami - Trend:
The Head of Central Bank of Iran Valiollah Seyf said that the country's economy grew 4.6 percent in the first quarter of the current Iranian calendar year (March 21 - June 21) compared to the same period of the previous year.
"One percent of the mentioned figure is related to the tourism sector, and another 1.5 percent is related to the industry and mine sector" Seyf said, Iran's IRIB News Agency reported on September 30.
A report released by the Central Bank of Iran also shows that the country's gross domestic product (GDP) reached 480,491 billion rials in the first quarter of the year.
The figure was around 459,252 billion rials in the same period of the previous year.
Iran's Vice President for Planning and Strategic Supervision Mohammad Baqer Nobakht said on September 1 that the country's economic growth will reach one percent in the first half of the current Iranian calendar year (March 21 - September 22).
"The Statistical Center of Iran has estimated the economic growth to reach 0.5 percent in the mentioned period but our estimation is one percent," Nobakht said at the time.
According to International Monetary Fund, Iran's economic growth will reach 1.5 percent in the current year. Masood Ahmed, the director of the IMF's Middle East and Central Asia Department, said the country's economic growth rate will increase to 1.5 percent after two years of contraction. In April, the IMF said Iran's economy will come out of recession in 2014.
Business Monitor said in its April report that the Iranian economy will return to growth in 2014, as the improvement in relations with the West and better macroeconomic management will lead to an improved outlook for exports and increased business and consumer confidence.
Recent improvements in relations with the West bode well for the country's economy, which is forecast to expand by 2.9 percent in 2015, according to the report.