Iran's central bank reports 3.6% GDP growth for Sep. quarter

According to the data released on Sunday by Central Bank of Iran (CBI), the country's GDP grew in the second quarter of the calendar year that began in March 2022, despite sustained economic pressure from American sanctions.

Iran (IMNA) - As reported by CBI, Iran's gross domestic product (GDP) increased by 3.6% in the three months ending on September 22, 2022, compared to the same period last year.

According to the figures, the Iranian economy's non-oil sector rose by 3.1% year over year in the September quarter.

The CBI bases its GDP figures on fixed prices published in 2016.

Since mid-2021, Iran has recorded successive periods of quarterly economic growth, more than two years after the United States put sanctions on the country's energy, banking, and commercial links with the rest of the globe.

Experts claim that by promoting more activity in local manufacturing and agriculture, the sanctions have provided Iran the chance to diversify its economy away from the oil industry.

News ID 640946

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