Construction GFCF Grows by 3.6%

Gross fixed capital formation (GFCF) registered a 0.6% decline in the first quarter of the current Iranian year (March 20-June 20), based on the constant prices of the year ending March 2012.
Gross fixed capital formation includes two sectors of “construction” and “machinery”, registered a 3.6% growth and a 9.9% contraction, respectively.
According to a report by the Central Bank of Iran, the country’s GFCF at current prices increased by 390 trillion rials ($1.44 billion) in the current fiscal year’s first quarter compared with the same period of last year to reach 1,362 trillion rials ($5.05 billion). 
Compared with the fourth quarter of the last fiscal year (Dec. 22, 2019-March 19), the gross fixed capital formation registers a decrease of 203 trillion rials ($753.24 million).