The Iranian oil industry’s economy is projected to grow 15.2 percent this Iranian year (started March 21, 2023), said the country’s top banker.
Governor of the Central Bank of Iran (CBI) Mohammadreza Farzin pointed to a 24 percent growth in crude oil output and a 16,000-barrel-per-day (bpd) increase in gas condensate production in the first half of the current Iranian year, forecasting a 15.2 percent economic growth for the oil sector, Shana reported.
Iran’s gross domestic product (GDP) is expected to hit 4.3 percent by mid-March 2024, he continued.
The industrial sector’s growth will be mixed, said Farzin, adding some industries will post high growth and some will report decline.
Estimates are based on growth in main domestic industries including oil and agriculture and balance of payments (BOP).
