Economy, Domestic Economy

CBI Releases Q2 Macroeconomic Indices

CBI Releases Q2 Macroeconomic IndicesCBI Releases Q2 Macroeconomic Indices

In the second quarter of the current fiscal year (June 22-Spetember 22, 2014), the country's economic growth rate was 3.7 percent including the petroleum sector and 3 percent excluding the sector, the latest report released by Central Bank of Iran (CBI) shows.

The CBI's report, released on Sunday, is a quarterly report that gives the latest data on CBI's monetary policies and economic indicators such as the country's economic developments, changes in money supply, inflation rate and etc.

Based on the latest report, the country's trade balance was 17.81 billion dollars.

Total revenues from exports (including oil) reached 48.72 billion dollars while 30.91 billion dollars worth of commodities were imported over the period.

The CBI report also shows that the unemployment rate was 9.5 percent. Based on the report, the rate was lower in rural areas (7 percent) and higher in cities (10.5 percent).  

The report also includes the latest data on the government's revenues and expenditures over the same period and shows that the government was not successful in managing a balanced budget. In the second quarter, government revenues amounted to 9.01 billion dollars (based on official exchange rate) the expenditures reached 12.9 billion dollars.

The Rouhani administration managed to cover its budget deficit by spending oil revenues, worth 4.04 billion dollars, in current expenditures. Considering capital expenditures, the government faced 0.169 billion dollars (based on official exchange rate) in budget deficit over the second quarter of the fiscal year.