Economy, Domestic Economy

Past Decade’s GDP Growth at 2.4%

Past Decade’s GDP Growth at 2.4%Past Decade’s GDP Growth at 2.4%

Iran’s economic growth rate over the past decade averaged at 2.4%, said the deputy head of Management and Planning Organization of Iran, Seyyed Hamid Pourmohammadi.  “The 20-Year Vision Plan [2005-25] has envisioned an annual growth of 8% (by the end of the plan). We need to make up for the slowdown during the first decade of the plan to be able to reach the target,” he was quoted as saying by IRNA. According to the latest statistics, the Iranian economy grew 0.7% during the nine months of the last fiscal year (ended March 19, 2016), after it grew 3% in the previous year and shrank 1.9% during the preceding year. The International Monetary Fund has forecast a 4% GDP growth for Iran in 2016 and 3.7% in 2017.