{"id":10322,"date":"2024-04-05T12:14:37","date_gmt":"2024-04-05T12:14:37","guid":{"rendered":"https:\/\/roydadnaft.ir\/English\/?p=10322"},"modified":"2024-04-05T12:14:37","modified_gmt":"2024-04-05T12:14:37","slug":"irans-5-4-economic-growth-in-2023-second-highest-in-world-pbo-chief","status":"publish","type":"post","link":"https:\/\/roydadnaft.ir\/English\/10322\/","title":{"rendered":"Iran\u2019s 5.4% economic growth in 2023 second-highest in world: PBO chief"},"content":{"rendered":"

RoydadNaft – <\/a><\/span>\u00a0Iran\u2019s Plan and Budget Organization (PBO) chief posted on X, formerly known as Twitter, that the country\u2019s 5.4 percent economic growth in 2023 reported by the International Monetary Fund (IMF) was the second-highest rate in the world.<\/p>\n

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IMF also increased its estimate of Iran\u2019s economic growth in 2024, citing a higher-than-expected surge in the country\u2019s oil production.<\/p>\n

The IMF, in its report published on February 22, forecast a 3.7 percent economic growth for Iran in 2024 while the figure in its October prediction was 2.5 percent.<\/p>\n

The IMF data showed that Iran\u2019s economic growth reached 5.4% in 2023 while the international agency had predicted a three percent growth for the country in the previous year.<\/p>\n

Iran\u2019s oil and gas industry\u2019s development has a direct impact on the country\u2019s economic growth, as the effect was felt during the previous administration\u2019s term, when the U.S. withdrawal from the Iran nuclear deal, formally known as the Joint Comprehensive Plan of Action (JCPOA), and reimposition of sanctions reduced Iran\u2019s oil production and exports and even led to negative gross domestic product (GDP) for a couple of years.<\/p>\n

13th administration\u2019s essential role<\/strong><\/p>\n

Taking office in August 2021, the 13th administration put the increase in oil production and exports on the top oo the agenda and stressed the need to neutralize the sanctions and avoid tying people\u2019s livelihoods to the revival of the JCPOA.<\/p>\n

Although the sanctions on Iran\u2019s oil industry and exports were ramped up by the U.S., the country witnessed a 40 percent increase in its oil exports at the end of the Iranian calendar year of 1400, which ended on March 20, 2022.<\/p>\n

After 30 months, the oil industry ranked first among other sectors, including the agricultural and service sectors, in terms of economic growth, making the largest contribution to the country\u2019s economic growth.<\/p>\n

Iran\u2019s oil sector achieved strong growth in the first nine months of the current Iranian calendar year (starting March 21, 2023), registering a 292 percent rise year-on-year.<\/p>\n

The sector\u2019s growth soared to 22.4 percent from 5.7 percent, making Iran\u2019s economic cake bigger.<\/p>\n<\/div>\n<\/div>\n

Updated on