Majlis Think Tank Forecasts 4.1% Growth

The research arm of the parliament has forecasted a 4.1% economic growth for the current fiscal year (March 2017-18) compared with last year’s 12.5%. Majlis Research Center expects the agriculture sector to grow 3.8% compared with last year’s 4.2%, the oil sector 3% over last year’s 61.6% and the industrial sector by 5% compared with 6.9% last year, Mehr News Agency reported. The parliamentary think tank expects the construction sector to register a negative growth of 8.3%, yet better than last year’s -13.1%. The services sector is forecast to grow by 5.9% over last year’s 3.6%. It has also forecast the inflation rate to stand at 10.5% compared to last year’s 9%. It estimates that the average price of Iran’s oil in the current fiscal would stand at $55 compared to last year’s $44.2.