Iran’s economic growth (using 2011 as the base year) turned from negative to positive in the first half of the current fiscal year (March 20-Sept. 21), the governor of the Central Bank of Iran, Abdolnasser Hemmati, wrote in an Instagram post.
“Economic growth, excluding oil, stood at 1.4%, and 1.3% when factoring in the oil sector in the first six months of the current year compared with the same period of last year,” he said.
“Economic growth, including oil sector stood at -2.9% and 5.1% in the first and second quarters of the current year.”
Iran’s gross domestic product, excluding the oil sector, saw a contraction of 0.6% in Q1 but an expansion of 3.2% in Q2, according to the CBI chief.
His comments came after the Statistical Center of Iran said Iran’s gross domestic product saw a contraction of 1.9% in H1. Economic growth, excluding oil, stood at -1.3%, according to SCI.
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