Iran’s oil sector growth exceeds 16% in 1st nine months: CBI

The oil and gas sector’s growth in the first nine months of this year of 1402 in the Iranian calendar (March 21-December 21, 2023) grew by 16%, said the Central Bank of Iran (CBI) governor.

The CBI governor Mohammadreza Farzin put the country’s economic growth during the period at 4.5%, adding that the oil industry’s growth was achieved by several good projects the sector has implemented.

Given the appropriate investments made in the oil industry, the increase in its production and economy will continue, Farzin predicted.

He also said the services sector’s growth over the period was around 4% and the agricultural sector witnessed a 0.7% growth, showing a decrease from a year earlier.

The industrial sector’s growth in the nine months stood at 3.9% – less than the figure during the corresponding period in its preceding year.

News ID 197255

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