Iran Experiencing High Economic Growth
The latest report by the Central Bank of Iran indicates a 12.5% growth in Iran’s economy over the year ended 20 March 2017. As has been repeatedly mentioned by other authorities, the largest part of this growth, i.e. 61.6% is owed to the rise in oil production and its sales as the result of JCPOA struck, which led to the lifting of some sanctions; in fact, Iran managed to produce 3.8 mn barrels of crude per day during this period. Excluding the oil production role, Iran witnessed a 3.3% of growth. In its report, referring to the growth rates in different sectors, including 4.2% in agriculture, the CBI announced the construction industry as the largest laggard with a -13.1% growth rate.