Baku, Azerbaijan, April 5
By Khalid Kazimov - Trend:
The Central Bank of Iran has announced that the country's economic growth in the 3rd quarter of the previous Iranian fiscal year (March 21 2014 to March 20, 2015) stood at 2.8 percent.
While the number 2.8 percent counted for oil revenues as well, the non-oil economic growth was registered at 2.5 percent, according to the Central Bank of Iran's website on April 5.
The GDP at base price registered at 2632438 billion rials (28,084 rials making USD1), gross fixed capital formation at 804 062 billion rials, consumer spending for the private sector at 1,427,211 billion rials, and consumer spending in the public sector at 266,577 billion rials, the report added.
The goods and services price index for the 12 months ending in December 2014 compared to the same period of the preceding year (inflation rate) was 17.2 percent higher.
During the 2012 and 2013 Iran's economy experienced 5.8 percent and 2 percent contraction, while the country's GDP growth is expected to free itself from negative growth this year.
Iran's nominal GDP also stood at $406.3 billion in 2014. The figure was $386.2 billion in 2013.
Iran's GDP growth is forecast to reach 2 percent and 2.3 percent in 2015 and 2016, respectively, according to the World Bank.