Friday, 03 December 2021 07:36 GMT

Iran's average economic growth hits 8.1 percent


(MENAFN) Iran's Ministry of Economic Affairs and Finance revealed the country to have seen a rise to 8.1 percent in the average of its economic growth in 24 months.

IRNA reported the ministry to have noted in its statement that the figure came in line with the expected growth rate estimated in the Sixth Five-Year Economic Development Plan (2017-22).

"Since taking office [in 2013], the 11th Iranian government identified achieving positive economic growth and curbing inflation as two of its most important economic targets," the ministry stated.

The statement said "before the 11th government assumed office, Iran's economic growth was negative (-7.7 percent in 2012 and -0.3 percent in 2013) and the inflation rate stood at above 30 percent."

It added "in 2016, Iran's economic growth increased to 12.5 percent following a number of moves and measures by President Hassan Rouhani's administration including adoption of policies to enforce financial discipline in domestic market and economy, regaining Iran's share of the global oil market - following the signing of the Joint Comprehensive Plan of Action (JCPOA) in July 2015 - and improving the country's credit risk."

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