H1 GDP Growth at 1%
Economy, Domestic Economy

H1 GDP Growth at 1%

Iran’s economic output grew 1% in the first half of the current fiscal year (started March 21), preliminary data released on Monday by the Statistical Center of Iran showed, as growth in agriculture and services outweighed a contraction in industrial output. The growth came from a 5.7% increase in the agricultural sector’s output and a 0.9% growth in the services sector, making up 9% and 50% of the economy respectively. Industrial output, which accounts for 40.7% of gross domestic product, however, contracted 1.1%, as low consumer demand and financing shortages kept the sector depressed. Iran’s GDP expanded 3% in 2014, after a 1.9% contraction in 2013 and a 6.6% contraction the year before. Economists fear Iran may dip back into recession this year, as sanctions, low consumer demand and a squeeze on lending keep weighing on industries and services. To counter this, the government is easing monetary policy—aiming to lower interest rates and boost consumer demand—ahead of a much anticipated easing of sanctions that would lead to the release of Iran’s frozen assets and open the floodgates of foreign investments.

Short URL : http://goo.gl/l1g1jy
  1. http://goo.gl/Scx0uY
  • http://goo.gl/JfrCEP
  • http://goo.gl/bRgBJY
  • http://goo.gl/YlCTI6
  • http://goo.gl/ZAv0S1

You can also read ...

Indian Cabinet Clears Tax Treaty With Iran
The Indian Cabinet on Wednesday cleared a double taxation...
(From L) Foreign ministers of Azerbaijan, Elmar Mammadyarov; Georgia, Mikheil Janelidze; Iran, Mohammad Javad Zarif; and Turkey, Mevlut Cavusoglu meet in Baku on March 15.
The foreign ministers of Turkey, Azerbaijan, Georgia and Iran...
Iran National Pavilion Opens  in Shanghai Free Trade Zone
Iran National Pavilion has been launched in the Shanghai Free...
Spotify Touts Growth Over Profits in Listing Pitch to Retail Investors
Streaming music leader Spotify used its cultural cool factor...
Facebook Bans Far-Right British Group
Facebook has banned the far-right political group ‘Britain...
Farshad Heydari (C) addresses a press conference in Tehran. 
The controversy surrounding the high number of Iranian bank...