An ‘Improvement’ over
Previous Year
Iranian government’s
Center for Statistics reported today that the economy in Iranian calendar year
1392 (ending March 2014) shrank by 2.2 percent. In the same period, the
country’s industrial sector showed a negative -4.5 percent growth, the service
sector shrank by 9 percent, while agricultural sector grew at 1.2 percent.
(Fars News Agency, 2 August)
Iranian economy started
shrinking in 2012, partly due to toughest sanctions against oil and banking
sector - The Center for Statistics had reported that the economy had a negative
-6.8 percent growth during the previous year (ending March 2013), during Ahmadinejad
administration’s last year, making the latest figure of 2.2 percent negative
growth an improvement, if any shrinking of an economy could be characterized as
such.
