Iran’s autumn economic growth forecast to be 4%
Baku, Azerbaijan, Jan. 6
By Fatih Karimov - Trend:
Iran's economic growth is forecast to be 4 percent in autumn, Alireza Moghtadaee, deputy governor of the Central Bank of Iran said.
Moghtadaee said economic growth shows that the country has emerged from recession, Iran's Mehr news agency reported on Jan. 6.
"The figure of economic growth is not important. The important thing is that the country has reached that growth," he said.
Iran's economic growth based on prices in Iranian fiscal year of 1383 (March 2004-March 2005) increased by 4 percent during the first half of current fiscal year(March 21-Sep. 22, 2014) compared to the same period of last year.
The Islamic Republic's GDP has registered a significant growth during the current fiscal year considering the 2.4 percent shrink during the last fiscal year's first six months compared to the preceding year.
The World Bank said in June that Iran's GDP will grow by 1.5 percent in 2014.
Iran's GDP growth is forecast to reach 2 percent and 2.3 percent in 2015 and 2016, respectively, the report said.
The World Bank estimated that the Iranian GDP contracted by 1.7 percent in 2013. This was preceded by a 5.6 percent shrink in 2012.