CBI: 4-5% Growth Expected
CBI: 4-5% Growth Expected

CBI: 4-5% Growth Expected

CBI: 4-5% Growth Expected

Iran’s economy is expected to experience a 4-5% growth in the current fiscal year to March 20, 2018, Central Bank of Iran’s Vice Governor Akbar Komijani said. “Since we have exhausted growth in the oil sector, the bulk of this year’s growth will be on the back of increased non-oil exports,” he was quoted as saying by Mehr News Agency.
According to CBI, Iran’s economy grew 12.5% in March 2016-17 compared to the preceding year.
The strong growth came amid higher oil production following the removal of international sanctions against Iran over its nuclear program as of January 2016.
GDP growth, excluding oil, stood at 3.3% as the oil sector registered a dramatic 61.6% growth last year.
Iran’s economy emerged from recession in the fiscal 2014-15 with a 3% growth after two years of recession when the economy contracted 5.8% and 1.9% back to back. Growth for March 2015-16 stood at -1.6%, CBI said.

Short URL : https://goo.gl/6YpVQ8
  1. https://goo.gl/6QcYZ4
  • https://goo.gl/91zn7i
  • https://goo.gl/Rf8efP
  • https://goo.gl/UpvhUd
  • https://goo.gl/f5iKsE

You can also read ...

Iran is the world’s biggest saffron producer and accounts for more than 90% of the global production.
Iran Mercantile Exchange launched saffron futures trading for...
Uber Plans Taxi-Hailing  in Japan
Uber Technologies plans to launch its first taxi-hailing pilot...
Tesla Admits Model 3 Braking Issue, Promises Fix
Tesla Inc’s Chief Executive Officer Elon Musk admitted on...
German firms, especially those without business links to the US, want to continue their Iran business.
While Germany’s big banks are studiously avoiding Iran-related...
New Rules Allow  Direct Forex Sale
Businesspeople that have validated their purchase orders are...
Iran Khodro Expanding Presence in Iraqi Market
Iran’s largest carmaker, Iran Khodro, is set to export 6,000...
19 Gov’t Assets Up for Privatization
The third month of the current fiscal year (May 22-June 21)...
Prices have been jacked up by car dealers and some makers by 6-22% only in the past few weeks.
Authorities are set to ratify new car prices for models...

Add new comment

Read our comment policy before posting your viewpoints