Economy, Domestic Economy

TCCIM: Industrial, Mining Growth Imbalanced

TCCIM: Industrial, Mining Growth ImbalancedTCCIM: Industrial, Mining Growth Imbalanced

Head of Tehran Chamber of Commerce, Industries, Mines and Agriculture, Masoud Khansari, predicted a maximum economic growth of 0.6% in the current Iranian year (started March 21), noting that many domestic industries are still not out of recession.

“While the industrial and mining sectors experienced reasonable growths in the last Iranian year (ended March 20, 2015), the most optimistic prediction for the current year would be to 0.6% economic growth,” he was quoted by Mehr News Agency as saying.

He emphasized the need for government support for the industrial sector to boost production, noting that the 3% growth in gross domestic product recorded last year was not equally contributed by all industrial and mining sectors.

“The growth recorded in industrial and mining sectors does not indicate a balanced growth in industrial production and was mostly contributed to by growth in automotive production, while many industries remain in recession,” he noted.

Khansari warned that a slower economic growth in the fourth quarter of the last Iranian year compared with its previous quarters indicates that the economic growth rate could further slide down in the current year if prudent measures are not taken to support industrial production.