Iran’s oil sector nine-month growth tops 16%, says chief banker

SHANA (Tehran) – The oil and gas sector’s growth in the first nine months of the Iranian calendar year (starting March 21, 2023) surged beyond 16 percent, said the Central Bank of Iran (CBI) governor.

Mohammadreza Farzin, who made the announcement on Thursday, put the country’s economic growth during the period at 4.5 percent and added the oil industry’s growth was achieved by several good projects the sector has implemented.

Given the appropriate investments made in the oil industry, the increase in its production and economy will continue, the chief banker predicted.

He also said the services sector’s growth over the period was around four percent and the agricultural sector witnessed a 0.7 percent growth, showing a decrease from a year earlier.

The industrial sector’s growth in the nine months stood at 3.9 percent – less than the figure during the corresponding period in its preceding year.

News ID 639161


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