CBI: Iran’s Oil Output Grows 10% Despite U.S. Sanctions

Date: 19 June 2023 - 22:05

News ID: ۱۱۶۲۸۵

TEHRAN – The Deputy Governor of the Central Bank of Iran (CBI) for economic affairs Muhammad Shirijian said on Monday that the country’s oil production has grown by 10 percent since the administration of President Ebrahim Raisi took office.
Expounding on the details of economic growth in the last Persian calendar year of 1401 (ended March 20, 2023), Shirijian revealed the continued two-digit growth in oil production.
He put the economic growth rate last year at four percent, showing a fivefold increase compared the average growth over the past decade.
As the average investment growth in the 2010s was -6.9 percent, this figure hit 6.7 percent in 2022, which shows that taking advantage of domestic capacities and talents has been effective in economic growth.
Shirijian also put the economic growth in 2021 at 4.5 percent.
Elsewhere in his remarks, the CBI deputy governor for economic affairs also said that economic growth in the agricultural sector rose from -2.6 percent in 2021 to 1.1 percent in 2022.
Regarding the growth rate of the mining and mineral sector, Shirijian said it rose from 1.1 percent in 2021 to 6.5 percent in 2022.