Unemployment 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.