Iran’s H1 non-oil GDP growth at 3.4%: SCI

Iran’s H1 non-oil GDP growth at 3.4%: SCI

According to SCI data, the figure including oil increased by 3.3 percent, IRNA reported.

As reported by the center, based on the fixed prices in the Iranian year 1390 (ended on March 19, 2012), the country’s GDP stood at 3.87 quadrillion rials (about $10.115 billion) including the oil sector, and at 3.326 quadrillion rials (about $8.7 billion) excluding the oil sector in the mentioned six months, while the figures were 3.745 quadrillion rials (about $9.78 billion) and 3.217 quadrillion rials (about $8.4 billion), respectively, in the first half of the previous year.

The SCI data indicate that in the first six months of 1401, the agricultural sector had negative growth of 2.2 percent, the industry and mining sector registered a five-percent growth, and the service sector grew by 2.6 percent compared to the first half of 1400.

Back in October, the International Monetary Fund (IMF), in its latest World Economic Outlook report titled “Countering the Cost-of-Living Crisis”, said that Iran’s economy will experience a positive growth of three percent in 2022, following its upward trend for the third consecutive year.

The fund anticipated that Iran’s inflation rate and accounts balance will also improve in the current year.

The international body had put Iran’s inflation rate in 2021 at 40.1 percent, adding that not only Iran’s inflation rate will not increase in the current year as compared to a year earlier, but it will hit 40 percent at large, showing a bit decline.

The IMF also predicted that Iran’s balance of its current accounts in 2022 will double as compared to the same period of last year.

Accordingly, the balance of Iran’s current accounts in 2021 had been put at 0.6 percent of its GDP, the rate of which will hit 1.6 percent in the current year.

Therefore, the IMF expects Iran’s economy to experience positive growth for the third year in a row in 2022 in spite of tough sanctions imposed by the United States against Iran.

Earlier in June, SCI had put the country’s GDP growth at 4.3 percent including oil, and at 3.5 percent excluding oil in the previous year.

The SCI said that the agriculture sector experienced negative growth of 3.7 percent, while the industries and mines sector grew six percent, and the services sector’s growth stood at 4.5 percent in the previous year./ Irna

Publish Date : 2022/12/28