January 17, 2022

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Oil export plays key role in Iran economic growth

Given the fact that Iran is still facing the United States’ illegal sanctions, the Islamic Republic have succeeded in boosting economic growth, which increased from 1.8 percent in first half of last Iranian year to 3.3 percent in the same period this year.
The figures indicate that Iran’s economy grew 1.5 percent in first six months (March 21, 2021 to September 22, 2021).
A look at Iran’s non-oil economic growth shows that the economy grew only 0.5 percent in first half of this year, comparing to the period last year, which increased from 1.9 percent in last year to 2.4 percent in the current year.
Iran’s GDP figures indicate that the share of oil export in growth domestic product has increased from -0.1 percent in first half of previous year to 15.1 percent in the same period this year, showing 15.2 percent hike.
Iran’s President Ebrahim Raisi underlined that sanctions and restrictions cannot stop Iranians, because this nation is determined to export oil and attain the export revenue.
Elyas Naderan, Iranian lawmaker, said that the country’s crude oil export experiences a better situation in comparison to last year and the money generated by oil revenues enters the country.
Mostafa Nakhai, Iranian legislator, noted that the 13th administration in Tehran has prioritized expansion of selling oil, gas and petrochemical products.


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Original News : https://en.irna.ir/news/84588871/Oil-export-plays-key-role-in-Iran-economic-growth

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