Central Bank of Iran said on Monday that the recession of Iranian economy was over in the year 2014 when the negative economic growth turned into positive.

According to the CBI, the official economic growth of the four seasons of the country in the Iranian year 1393 (March 20, 2013 – March 20, 2014) in spring, summer, fall and winter were 3.8, 3.8, 3.7 and 0.6 percent respectively all improved compared to the similar periods the previous year.
The CBI indicates that that economic performance led to an average 3% economic growth last year, which in accordance with international definitions of the general economic conditions indicates satisfactory improvement.
The CBI also indicates that the country’s industrial sector in the year 2014, show improvement.
Production in large industrial units (with 100 or more workers and a total worker population of over 2,400 and a 70% share in country’s industrial production) shows increase in spring, summer, fall and winter seasons respectively 8.4, 4, 5 and 9.7 percents, all with increase compared with similar periods the previous year.
The detailed report also has other sections, the sum up of which show that the Iranian economy has during the course of the past two years has regained its lost vigor so that the gross national product (GNP) which had for eight consecutive seasons from 2012 to 2014 showed negative growth as of the beginning of 2014 began to show positive.

IRNA
Nov 3, 2015