Baku, Azerbaijan, May 31
By Fatih Karimov - Trend:
Iran's gross domestic product (GDP) growth rate hit 3.6 percent in the first nine months of the past Iranian fiscal year (March 21-December 21, 2014), Iran's Central Bank Governor Vaiollah Seif said.
Positive GDP growth rates were registered in three consecutive quarters last year after eight quarters of contraction, Iran's IRIB quoted Seif as saying on May 31.
Through adopting policies to curb liquidity and managing the foreign currency market, the inflation rate decreased by 19.1 percent, reaching from 34.7 percent two years ago to 15.6 percent last year, and to 15.5 percent in April this year, he explained.
The central bank has gained many achievements such as increasing investments, creating market stability, and boosting loans by the banking system, he noted.
He also said that the central bank aims to bring down the inflation rate to a single-digit figure in the current Iranian fiscal year, which began on March 21.
The Central Bank of Iran has announced that the country's economic growth in the 3rd quarter of the previous Iranian fiscal year 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.
Meanwhile, the World Bank put Iran's GDP growth in 2012 and 2013 at negative 6.6 percent and negative 1.9 percent while the figure for 2014 is estimated to be 1.5 percent and for 2015 is expected to reach 0.9 percent.
Iran's GDP growth for 2016 and 2017, according to the WB is forecasted to stand at 1 percent and 2.2 percent as well.