1 June 2024 - 13:05
  • News ID: 642515
Oil Sector the Driving Force of Economic Growth, PBO

SHANA (Tehran) - All sectors of the economy have experienced a desirable rate of growth, but the oil sector plays the specific role of driving force with a higher rate of growth than other sectors.

Speaking in the televised program of First Row; the head of Planning and Budget Organization (PBO), Davood Manzour, made the remarks, adding PBO acts like a focal point connecting all the governmental apparatuses as a chain so that timely enforcement of its duties affects the performance of other apparatuses to fulfil their missions properly.   

“The 13th administration has displayed an acceptable economic performance over the past three years”; he said, adding by referring to the available data it could be said that monetary performance of the 13th administration has been more disciplinary than before in a way that it has been able to register not only higher economic growth but lower inflation.

Over the Iranian calendar years of 1400, 1401 and 1402, which ended on 19 March 2024, the economic growth of the country stood at respectively 5.5, 5 and 5.7 percent implying the country has experienced more than 5 percent growth in a row during the period, while during a decade before the economic growth stood at less than 1 percent or 07 percentage on average, PBO’s head noted.

According to him, this astonishing rate of economic growth is especially due to the oil sector’s performance, in which its rate of growth was higher than other economic sectors and made up approximately half of total economic growth last year.

Over the last Iranian calendar year of 1402, which ended on 19 March 2024, more than 1000 projects became operational, he said, noting that there is a view that the governmental projects should be implemented in the form of partnership with other non-governmental sectors because they are rarely attractive in view of absorbing investments even though some of them have drawn attentions.

News ID 642515


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