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Economy in Iran   A major growth in added value of the oil group

Iran's economic growth hits 7.4%, says central bank

Iran factoryCentral Bank of Iran (CBI) announced that Iran's Gross Domestic Product (GDP) in the first half of the current Iranian calendar year (started on March 21) shows a 7.4% growth in comparison with the same period last year.

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"After sharp plunges in global oil prices last year and its adverse consequences on Iran's economic growth, the country's economic growth is doing well this year," according to CBI.

In addition to a major growth in added value of the oil group, the growth in added value has been also significant in other economic groups in the second quarter of the year compared to the first quarter, the announcement said.

CBI said that it will release further statistics and detailed information in this regard.

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