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SCI Forecasts Economy to Shrink by 7.2% in Fiscal 2019-20

SCI Forecasts Economy to Shrink by 7.2% in Fiscal 2019-20SCI Forecasts Economy to Shrink by 7.2% in Fiscal 2019-20

The Statistical Center of Iran forecasts a 7.2% decline in Iran's GDP for the current fiscal year (ending March 19), adding that economic growth is expected to stand at 0%, excluding oil production.
The economic output of the agriculture sector has been forecast to grow by 3%, crude oil and natural gas by -37%, industries and mines (excluding oil) by 2.2% and services sector by 0.1% in the current year compared with last year, Fars News Agency reported.   
SCI's latest report on Iran's economic growth showed Iran's gross domestic product, excluding oil production, recorded a positive growth rate of 0.9% in the third quarter of the current fiscal year (Sept. 23-Dec. 21).

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