The gross domestic product, excluding oil, has been positive during the first six months of [the Iranian year] 1398 [March 21-Sept. 22], the governor of the Central Bank of Iran said in his Instagram post.
Abdolnasser Hemmati added that in the second quarter of the current fiscal year (June 22-Sept. 22), the sectors of "agriculture", "industry & mines", and "services" saw respective growth rates of +9.5%, +0.4%, and -1.4%, leading to an overall economic growth of +0.6% in Q2.
"All in all, we’ve experienced a +0.5% in [non-oil] economic growth during the first half of the year," he said.
Referring to growth in the oil sector, the CBI chief said, "The oil sector is facing its own special circumstances."
Iran has been selling significantly lower volumes of oil due to US sanctions, so the sector is expected to have contracted considerably.
In a piece published on the central bank's website, Hemmati first announced the comeback of growth to Iran's economy in September...
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