CBI: Iran’s Economic Growth Reaches 4 Percent

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The Central Bank of Iran (CBI) announced that the country’s economic growth reached four percent in the first six months of the Iranian calendar year (March 21- September 22), showing 6.4 percent jump comparing to the similar period last year.

Iran’s Gross Domestic Production (GDP) hit $40bln during the first six months of this year and rose by four percent comparing to same period last year.

Iran’s last year GDP hit 39bln which led to -2.4 percent economic growth of the country.

The CBI had already said in September that the country’s economy has attained positive growth for the first time in two years.

According to the data, Iran’s agriculture, oil, mine and industry sectors posted positive growth rates of up to 8.1 percent during the period.

In late November, Iranian Government Spokesman Mohammad Baqer Nobakht said that the country’s inflation rate declined by 1.3 percent in the eights month of Iranian calendar year (October 23-November 21, 2014) compared with the figures of one month earlier.

Nobakht added that Iran’s point-to-point inflation rate for the month was 13.2 percent year-on-year.

He noted that Iran’s point-to-point inflation rate for the month ending October 22 was 14.2 percent.

According to the Statistical Center of Iran, the country’s inflation rate during the month ending October 22 was 19.1 percent.

Analysts believe that a rise in production of goods and services has attracted liquidity to these sectors and led to the new fall in inflation rate.

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