Majlis Think-Tank Puts GDP Growth at 8.9%

The research arm of the Iranian Parliament has revised up its former economic growth estimate for the last Iranian year (ended March 20, 2017) by 1.7%, saying the economy expanded by 8.9%.

Economy Minister Ali Tayyebnia has estimated that last year's GDP growth stood at 8%. The revision came after economic figures and data were released by official bodies for the nine months to December 20, 2016, IRNA reported. According to the Central Bank of Iran, the Iranian economy grew 11.9% during the three quarters. Without taking the oil sector into account, growth rate stands at 1.9%, CBI says. The Statistical Center of Iran has put the growth rate at 7.2% including oil and 5% excluding it.