News ID: 317309
Published: 0142 GMT October 24, 2021

Iran’s economy out of COVID-19 recession: CBI governor

Iran’s economy out of COVID-19 recession: CBI governor

The governor of the Central Bank of Iran (CBI) said that despite the COVID-19 pandemic and the foreign economic pressures, Iran's economy is witnessing growth.

Ali Saleh-Abadi, in a virtual meeting with the CEO of the International Monetary Fund (IMF), ministers of economy, governors of central banks and heads of regional financial, said that "Iran, like many other countries, has been hit hard by the coronavirus pandemic but is now on a solid path to economic recovery," Mehr News Agency reported.

"Despite the losses caused by the COVID-19 pandemic, Iran's economy witnessed growth in spring," the CBI governor added.

Saleh-Abadi also noted that the latest statistics show a 6.2% growth in Iran's GDP in the second quarter of 2021, which is a significant achievement despite severe restrictions on Iran's access to its foreign financial resources.

He, meanwhile, stressed that the US sanctions have prevented Iran from buying vaccines from abroad.

"The non-oil sector grew by 4.7% over the same period last year, indicating that Iran's economy has come out of the recession and is moving toward recovery," the governor further said.

CBI chief also pointed out that through proper planning, Iran's unemployment rate in the second quarter of 2021 was standing at 8.8%, which shows a 1% decrease as compared to the same period last year.



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