Baku, Azerbaijan, May 20
By Emil Ilgar - Trend:
Iran's GDP growth can remain at 5 percent even with the oil price of $40 per barrel, said Iran's Minister of Economic Affairs and Finance Ali Tayebnia.
Dependency of Iran's economy on oil revenues has decreased since imposition of sanctions in 2012, Tasnim quoted Tayebnia as saying May 20.
Iran's oil exports decreased from 2.2 million barrels per day (mb/d) in 2011 to around 1 mb/d in the sanctions era, but resumed to about 2 mb/d in April 2016.
The sanctions on Iran were lifted in mid-January 2016.
According to the latest report of the International Monetary Fund, Iran's GDP growth for 2015 stood at zero percent, and is expected to reach 4 percent in 2016.