Baku, Azerbaijan, May 10
By Khalid Kazimov - Trend:
Iran's economic growth over the last Iranian calendar year (ended March 20) amounted to zero percent, an Iranian official said.
"Despite the removal of sanctions, Iranian banks are still incapable of normalizing ties," Mehr news agency quoted the head of Tehran Chamber of Commerce, Industeries & Mines, Masoud Khansari, as saying.
Referring to a report by the International Monetary Fund (IMF) forecasting 4-4.5 percent economic growth in the country over the current year, he said the domestic experts have predicted a five percent economic growth including three percent from oil revenues and a two percent growth from the removal of sanctions.
According to the IMF forecast, Iran's GDP (including the oil sector) will reach $386.1 billion in 2016.
In a late April report, IMF suggested that Iran's economy will see a four-percent growth rate in 2016, but it will fall to 3.7 percent in 2017.
Meanwhile the country plans to register an economic growth of eight percent according to a five year plan that will begin in March 2017.
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