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Iran’s economy expands ...
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This shows the significant inflationary pressure faced by the Iranian economy.
Despite the growth in the non-oil sector, the services sector did not perform as well as expected, posting a modest expansion of only 2.6%, while agriculture contracted by 4.3% over the March-December 2022 period.
The data comes as the Central Bank of Iran reported a GDP growth of 3.6% for Iran’s economy in the quarter to late September.
The country’s economy faces a range of economic challenges, including inflation, unemployment, and U.S. sanctions, but the growth in the non-oil sector provides a glimmer of hope for Iran’s economic future.