Is Iran’s Economy Turning The Corner?

The Central Bank of Iran (CBI) has released fresh statistics pointing to some improvement in key economic indicators, almost a year after the conclusion of the interim nuclear deal between Iran and the P5+1 Group of countries (MEES, 29 November 2013).

Real GDP rose by 4.6% in the first quarter of the current fiscal year (starting on 21 March 2014), compared to the same three-month period a year earlier, CBI preliminary figures show. The growth came after two years of stagflation with GDP which contracting by 4.1% over the year to March 2013.

President Hassan Rohani, while in New York last week to speak at the United Nations, hailed this statistic as a sign that the economy was coming out of recession.


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