Oct 24, 2021, 12:13 AM
Journalist ID: 1316
News Code: 84516027
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Vice governor of Central Bank outlines details of Iran economy’s exit from stagnation

Tehran, IRNA – Vice Governor of the Central Bank of Iran (CBI) for Economic Affairs said here on Saturday that Iranian economy showed positive growth from the spring of 2020 to the spring of 2021, which means its exit from stagnation.

“When the economy of a country shows positive growth in two consecutive seasons, the economists say its recession period is over. The Iranian economy, too, has shown positive growth for a whole year, which is four seasons,” said Peyman Qorbani.

The Vice Governor of the CBI said that in the summer of 2020 Iran’s economic growth was 3% which increased up to 5.4% in the winter season, and 6.2% in the spring of 2121.

“These statistics show that the Iranian economy has been paving the correct path, although last year the COVID-19 pandemic and it negative effect on most countries’ economies was a negative factor, but it was mainly harnessed in Iran, and the Iranian economy therefore kept on its positive growth,” he said.

Qorbani said that last year the average growth rate of the country was 2.9%, the non-oil products’ growth was 3.4%, the oil products growth was 8.7%, the mines and industries growth was 7.6% and only the service sectors’ growth was minus 2%.

“In the spring of this year due to draught the country’s economic growth showed negative 9%, but the oil derivatives growth was 23,3%."

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