Central Bank of Iran

Iran’s economic growth hits 3.6 percent

File photo of the Central Bank of Iran

File photo of the Central Bank of Iran

TEHRAN (ISNA)- Iran’s economic growth totaled 3.6 percent in the first nine months of Iranian calendar year (started on March 21, 2014) as its Gross Domestic Product hit over $54.000.000.000 in the same period.

The economic growth is of great importance while the country is under the western sanctions.

The Central Bank of Iran (CBI) announced that the country’s economic growth totaled 4.6 in spring and 3.7 in summer.

Late September, the CBI said country’s economy has attained positive growth for the first time in two years.

New figures released by the CBI showed the economy expanded 4.6 percent in the first quarter of the current Iranian calendar year (started March 21, 2014).

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.

Iran’s economic growth rate turned positive after the country experienced months of stagflation, suffering negative economic growth combined with rising inflation rate.

Earlier September, Iranian President Hassan Rouhani said the Islamic Republic will witness an inflation rate far below 20 percent at the end of the year.

“I announce to the Iranian nation that we have fortunately left behind stagnation,” Rouhani said.

By ISNA