Friday, April 12, 2024

Iran says beats sanctions, economic growth exceeds 6 percent

The Iranian economic and financial affairs minister says the country experienced a growth rate of over 6 percent in economy during the past year.

Addressing reporters on Tuesday, Ehsan Khandouzi said, “Iran’s economic growth rate was over 6 percent and the point-to-point inflation in the country fell by 2.7 percent to 35.8 percent at the end of last month.”

Citing the figures provided by the Iranian Central Bank, the minister said Iran’s economic indicators in the first nine months of this year, staring on March 21, repeated the stable conditions of growth and the economic growth reached 5.1 percent including oil and 2.5 percent excluding oil.

He pointed out that the achievement amid US-led Western sanctions against Iran indicates the failure of the punitive measures.

“Growth in the oil sector reached 21.8 percent this fall, while last fall this figure was 10.8 percent. The two-fold increase in the oil sector compared to the fall last year showed that the country was very successful in beating the sanctions,” he added.

“As a result, the economic growth in the nine months of this year is over 6 percent. The country’s economic growth in the industrial sector reached 1.8 percent this fall,” he stated.

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