Central Bank reports 3% boost in economy

TEHRAN, Jun. 19 (MNA) – In the latest report of the Iranian Central Bank, Iran’s GDP shows 3 per cent rise over the last year.

The Iranian Central Bank (ICB) announced that according to preliminary calculations the GDP of the Islamic Republic of Iran at base year constant prices of 2004/05 increased by 3.0 percent in 2014/15 as the total value of Iran’s GDP got to around 69,744,480,391.5 dollars.

The GDP of the Islamic Republic of Iran was projected to grow at 7.1 per cent in 2005, supported by all major sectors, especially energy and mining but the Western game of nuclear buzz affected the economy in as much as that at its peak the GDP at base year constant prices of 2004/05 declined by 6.8 percent a year prior to 2013/14 in which the new administration developed new disciplines encountering the downward trend.

The most important achievement of the Iranian economy in the second half of 1392 (2013/14) was inflation deceleration and decline after the constant rise of inflation before that period. Inflation accelerated at the first seven months of 2013/14 and reached 40.4 percent in October 2013. From the end of October, inflation experienced a declining trend, reaching 34.7 percent in March 2014. The month-to-month CPI rate was at the peak level of 45.1 percent in June 2013 and from that month, started a declining trend, reaching 19.7 percent by the last month of 2013/14. The decline in foreign exchange rate and the lowering of its fluctuations along with better economic outlook had a vital role in anchoring inflation in that year.

Also the recent statement of ICB shows the implied index value upping in sectors of agriculture, industry and mining, and services respectively by 15.3, 9.2, 15.1 per cent over the designated period of March 21, 2014 to March 21, 2015.

 

News Code 108021

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