News ID : 24583

SCI Data Showing Growth of Iran’s GDP

SCI Data Showing Growth of Iran’s GDP

TEHRAN (FNA)- Statistical Center of Iran (SCI)’s data showed that the country’s gross domestic product (GDP) for the fiscal year 1398 (ended March 2020) had a growth of 1.55% compared to the base-year 2011-2012.

The SCI’s report on Sunday said that total GDP over the past calendar year had amounted to 7,037,972 trillion rials (over $372 billion), based on the base-year exchange rate of 18,900 for the rial against the US dollar.

Iran had reported a GDP of 6,929,905 trillion rials (over $366 billion) for year 1390 (ending March 2021).

According to the SCI figures, Iran’s nominal GDP for last year dropped by 7% compared to the previous year while the GDP without oil decreased by 6% for the similar period.

In late June, Governor of the Central Bank of Iran Abdolnasser Hemmati categorically dismissed a recent forecast by the International Monetary Fund (IMF) about Iran's economy.

"Even CBI's most negative scenarios cannot confirm the forecast of minus six percent economic growth for Iran," Hemmati said in reaction to IMF's forecast.

In its very recent forecast on world economy, IMF has said that Iran's Gross Domestic Product, GDP, will decline by about six percent in 2020.

"IMF has made a mistake as it did so last year," the CBI governor added.

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