GDP Growth of 1% in 1H

Iran’s economic output grew by 1 percent in the first half of the current fiscal year (started March 21), according to preliminary data released from the Statistical Center of Iran.

Growth in agriculture (5.7 percent) and services (0.9 percent) outweighed a contraction in industrial output (-1.1 percent).

GDP expanded 3 percent in 2014, after a 1.9% contraction in 2013 and a 6.6% contraction the year before.

Economists fear the country may slip back into recession this year due to sanctions, low consumer demand and a squeeze on lending. To counter this, the government is easing monetary policy ahead of the much anticipated relaxation of sanctions.

(Source: Financial Daily Tribune)

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