Iran’s economic growth has significantly decreased compared to the previous year, according to a recent update by the Central Bank of the country, Report informs, citing Radio Farda.
Iran’s economy grew by only 3.2% in the spring of this year, a sharp decline from the 5.7% growth recorded in the corresponding period of 2023.
The slowdown in Iran’s economic growth is attributed to a substantial decrease in the added value of oil products, which has halved. In the spring of last year, growth in this sector stood at 16.5%, while it has fallen to 9.5% in the current reporting period.
The International Monetary Fund (IMF) estimates that Iran’s economic growth reached 4.7% last year. However, the organization projects a further decline to 3.3% this year and 3.1% next year, painting a gloomy picture for the country’s economic future.
In recent days, Iranian President Masoud Pezeshkian stated that achieving an 8% growth in the economy would require an investment of $200 billion. “The total investment in the country does not exceed one hundred billion dollars. Therefore, we need one hundred billion dollars in foreign investment,” the president emphasized.
