Iran’s Minister of the Economy has announced that after two years of shrinking due to high inflation, the Iranian economy finally began to grow this spring.
In a ceremony marking the launch of the Land and Building Fund, Ali Tayebnia said they have every hope that the economy will continue growing from season to season.
Although the minister did not cite any exact numbers, he said “While the number is low, it still points toward growth.”
Yesterday, presidential spokesman Mohammadbagher Nobakht said at the Tehran Friday Mass that the economy has recorded growth measuring one half of a percentage point.
The Iranian economy has faced serious decline due to changes in government subsidies, the rise in inflation and widespread international sanctions.
Previous reports regarding inflation indicated that after reaching rates of 40 percent, the inflation rate is now in a downward trend and closer to 23.2 percent.