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said to be an official from Iran's domestic security and law enforcement agency. Kaviani is quoted as saying that protests held in Iran over the current Iranian year (which ends on March 21) have increased by nearly 50%, with a near doubling of the number of protesters involved.
Official inflation in Iran over the last year has been around 40%. But Kaviani was quoted as saying that the real inflation rate for basic food items in November 2021 was between 86% and 268%.
Iranian teachers, pensioners, nurses, judiciary workers, oil workers and others have mounted street protests in the past few months, demanding higher pay and expressing their discontent at economic conditions.
Iran's Supreme Leader Ayatollah Ali Khamenei on January 30 admitted Iran's economic woes were not only caused by US sanctions. Government mismanagement had contributed, he said, talking of “wrong decisions” made by previous governments.
3.0 Macro Economy
3.1 Macroeconomic overview
Iran’s economic growth reaches 5.7% in Persian calendar Q3
Iran’s recession ‘over as economy clocks 2020/2021 calendar year growth of 3.6%
A report by the Central Bank of Iran (CBI) says that Iran’s economic growth recorded 5.7% in the third quarter of the current Iranian calendar year (September 23 – December 21, 2021), it announced on March 14. Iran’s economy has continued to rebound despite US sanctions still levied on it through local production and a boost in exports thanks to high oil and gas prices in the global market.
The report said that the country’s gross domestic product (GDP) stood at $13.4bn in the three-month period, showing 5.7% growth compared to last year’s corresponding period.
The CBI’s report put the country’s overall economic growth in the nine months to December 21, 2021 at 4.1%.
The improvement of GDP in the period under review was largely due to 8.1, 3.8 and 5.4% growth in services, industries and mines, and oil groups respectively.
The agriculture group, however, fell by 2.5% in the three-month period in comparison to figures from the last year’s corresponding period.
The country’s GDP including oil revenues and excluding oil revenues registered 4.1 and 3.4% growth respectively in comparison to the first nine months of the preceding year.
Iran’s economy grew by 3.6% in the 2020/2021 Persian calendar year (ended March 20), Akbar Komijani, lately appointed caretaker governor at the Central Bank of Iran (CBI), was cited as saying by Press TV.
If verified, it would mean Iran has emerged from the long and bitter recession that set in around May 2018 when former US president Donald Trump hit Tehran with renewed and intensified heavy sanctions.
16 IRAN Country Report June 2022 www.intellinews.com