Iran Newspaper has reported that despite water shortages and power outages during first months of the current Iranian calendar year (started March 21, 2021), the country experienced 3.3 percent economic growth in the first half of this year.
In a Wednesday report on gross domestic production (GDP) in the first six months in Iran, the daily wrote:
Following statistics on the downward trend of the inflation rate in the country during the period of September 23 to November 21, the Central bank of Iran reported that the GDP, which shows economic growth, has been promising in the first six months of this year.
The CBI statistics indicate that Iran’s economic growth excluding oil revenues has increased to 2.4 percent, while the figures in the same period last year showed a 1.8 percent increase.
The value-added revenues of services and oil sales played a key role in boosting economic growth in the second season of this year, showing a 4.2 and 7.4 percent increase respectively in comparison to the similar period last year, but other areas such as agriculture, industries and mines were negatively affected by lack of rain and power outages; and house-building sector decreased in summer.
The increase of production and export of crude oil and petroleum products has had the most positive impact on economic growth in Iran with a 15.1 percent rise.
Sasan Shahveysi, an economic expert, wrote in a memo that negative growth in the agriculture sector has its roots in water shortages, which need expertise programs to deal with draught.
It is worth mentioning that efforts made by the Iranian government to facilitate trade in particular non-oil exports can lead observers to predict that economic growth can continue in the country within the next months of this year (to be ended on March 20, 2022).
