CBI put economic growth at -0.6% in Q1

Abdolnaser Hemmati broke the news on Mon. and put the country’s economic growth with oil included at -2.8 percent.

Statistics showed that the economic growth of the country in agricultural and industrial-mineral sectors hit +3.8 and +2.5 percent respectively.

In this period, the services sector registered a 1.6 percent decline, he added.

He pointed to the spread of the coronavirus pandemic and added, “Iranian economy is recovering after the coronavirus shock hit all countries of the world.”

As compared with countries that did not face any sanctions and their economies were only affected by the coronavirus, Iran’s economic growth performance is promising, Hemmati emphasized.

Iran’s negative economic growth in the oil sector in the first three months of the current year is due to the sanctions imposed against the country and also reduced global demand caused by the coronavirus, CBI governor added.

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