Economy, Domestic Economy

Unemployment Forecast at 12.1 Percent

Unemployment Forecast at 12.1 PercentUnemployment Forecast at 12.1 Percent

The jobless rate is forecast by the Plan and Budget Organization of Iran to stand at 12.1% and economic growth to reach 5% in the current fiscal year (March 2017-18).

According to the Central Bank of Iran’s latest report, the economy grew by 4.5% during the first half of the current fiscal year (March 21-Sept. 22) compared with last year’s corresponding period, Mehr News Agency reported.  The CBI report came after the Statistical Center of Iran put the current fiscal’s H1 growth at 5.6%.

IMF expects Iran’s real GDP growth to reach 4.2% in 2017-18.

According to SCI, Iran’s unemployment rate in the last fiscal year (March 2016-17) stood at 12.4%, registering a 1.4% rise compared with the preceding year.

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