Research body forecasts lower economic growth for Iran

Business Materials 21 September 2017 16:53 (UTC +04:00)

Baku, Azerbaijan, Sep. 21

By Khalid Kazimov – Trend:

An Iranian parliamentary research center has forecasted that the economic growth of the country’s in the currency fiscal year (starting March 20) would stand at about 3.7 percent.

This is while the Central Bank of Iran (CBI) put the rate for the last fiscal year at 12.5 percent, thanks to Iran’s huge oil exports following the removal of international sanctions.

The research body of Iranian parliament through a recent report has suggested that the growth of oil sector, industry, construction and service will respectively reach 3.8 percent, 4.1 percent, 2.5 percent and 2.8 percent.

The Statistical Center of Iran earlier in September reported that the country’s GDP at purchasing power parity, compared to prices of a base year to March 21, 2012 increased by 6.5 percent during the first three months of current fiscal year (March 20-June 21).

The country's GDP (including the oil sector) reached 1,836.427 trillion rials (about $55 billion based on official rate of 33,000 rials per each USD) during the 3-month period