Non-oil GDP growth at 0% this year: SCI predicts

TEHRAN, Mar. 15 (MNA) – In its latest report, the Statistical Center of Iran (SCI) has predicted the non-oil gross domestic product (GDP) growth rate to stand at zero percent in the current Iranian calendar year 1398 (which is to end on march 21, 2020).

The growth of GDP, including the oil sector, hovers around -7.2 percent in the said time, the same report confirmed.

The center put the registered annual growth rate in sectors of agriculture, gas and oil, industry and mine, and services respectively at 3 percent, -37 percent, and 2.2 percent and -0.1 percent.

This while the Governor of the Central Bank of Iran (CBI), the other Iranian body which is in charge of reporting economic indices, has announced 1.2-percent non-oil economic growth for the first nine months of the present Iranian calendar year (March 21- December 21, 2019).

"According to the reports of the CBI, non-oil GDP growth in the said months stood at 3.3 percent, while including the oil sector, the growth rate reached 1.2 percent, in this period," Abdolnaser Hemmati, wrote in an Instagram post on March 14.

"Sectors of agriculture, industry- mining and the services, with growth rates of %7.8, %7 and %1.2 respectively, had the main role in the gained growth rate," he added.

In mid-February, Hemmati announced that Iran’s economy is getting out of recession, while major economic indices are experiencing stability.

Despite some efforts done to present a dark image of Iran’s economic future, CBI data proves economy to have a relative stability, stepping out of recession, the governor said.


News Code 156740


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