(Persia Digest) – The Statistical Center of Iran has announced that the economic growth rate in the nine months starting March 2018 has dropped by over seven percent to reach -3.8 percent.

According to the report, the latest figures for Iran’s economic growth rate is -3.8 percent including oil sales and -1.9 percent excluding oil sales.

Other information released by the statistics center shows that in the first nine months starting March 2018 economic growth in agriculture was -1.2 percent, industry -7.9 percent, and services 0.6 percent.

Figures released by the center for the first six months starting March 2018 show a 0.3 percent growth excluding oil and a 4.0 percent growth including oil.

Persia Digest (PD) reports that the World Bank report in April 2019 has shown a -1.6 percent growth rate for Iran in 2018 and forecast a -3.8 percent growth for 2019.

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But the International Monetary Fund (IMF) report dated April 2019 has forecast a -6.0 percent economic growth rate for Iran in 2019.

This downward trend can be a sign of US sanctions, including oil, affecting the Iranian economy which were reinstated following Trump’s exit from the JCPOA.

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The World Bank report also mentions that following a downturn in 2018, Iran will have a similar experience in 2019 on a much larger scale. The same report has forecast a 0.9 percent and 1.0 percent economic growth rates for Iran in 2020 and 2021 respectively.

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