World  Business and Economic Analysis 

Nobakht,

  • Iran attracts $3b FDI in post-JCPOA period


    Iranian government spokesman Mohammad Baqer Nobakht said  Iran has attracted over $3 billion of  FDI after Tehran struck a nuclear agreement, also known as JCPOA, with world powers last year.

    He called  the Iranian envoys to boost efforts to attract more foreign investors for water, environment and railway transportation projects within the framework of the resistance economy plans, IRNA reported.

    Nobakht announced that the country's crude exports have doubled after the implementation of the landmark nuclear deal.

    "Iran's oil exports have increased more than two times after the nuclear deal," Nobakht said while addressing a gathering of Iranian ambassadors and envoys to foreign states in Tehran.

    The International Energy Agency said Thursday Iran’s oil production has risen faster than expected, reaching levels not seen since before nuclear-related sanctions were tightened in 2011, the Wall Street Journal reported.

    Iran ramped production up by 300,000 barrels a day month-on-month in April, hitting 3.56 million barrels a day, according to the IEA’s closely watched monthly oil-market report. The output is now at levels not seen since international nuclear-related sanctions were extended.

    Iranian exports increased at greater rate, with preliminary data suggesting a month-on-month rise of 600,000 barrels a day to about two million barrels a day. However, the dramatic increase from 1.4 million barrels a day seen the previous month, may have been helped by loadings that spilled over from March, the Paris-based agency said.

    Foreign Minister Mohammad Javad Zarif, who also attended the conference, said the Iranian envoys should focus on the country’s economic development and people’s livelihood in a way that the people would feel the outcome of the nuclear deal.

    “We have gathered together here to exchange views on all the new chances and opportunities for making use of the nuclear agreement in the light of the resistance economy,” he added.

    Referring to some opposition to Joint Comprehensive Plan of Action (JCPOA) in the US, Zarif said certain opponents to the nuclear deal, who have the record of supporting the Zionist regime, tried to slow down the implementation of the deal by pursuing their close-minded views.

  • Iran's three-month economic growth hits 2%



    Iran's economic growth hits  at two percent in the three month from December 22 to March 19 which corresponds to the last quarter of the previous Iranian year, said government spokesman Mohammad Baqer Nobakht at a press conference in Tehran.

    He said, the figure includes  oil revenues, but with the exclusion of oil, the growth rate stood at 1.6 percent," Nobakht said.

    Iran's crude export started to rise in January when the sanctions were lifted.

    Nobakht explained that in the agriculture sector, growth improved from 3.3 to 5.5 percent compared to the rate for the preceding quarter.

    During the same quarter, the rate for the industrial sector jumped from -4.4 percent to 0.6 percent, with industry and mining subdivision surging from -1.3 to 3 percent and the mining subdivision from -7.3 to 9.9 percent, he added.

    Growth in the oil and gas extraction sector grew to 16.5 percent against the figure for the preceding quarter which was -9 percent.

    "Growth in the group of other mines plunged from -2.7 to -7.5, however," he said, adding, "The water, electricity, and natural gas sectors improved from -1.1 to 7.9 percent.

    "Housing improved from -21.7 to -16.5, services from 0.4 to 0.8, wholesale, hotels and restaurants from 0.3 to 1, and business from 0.6 to 1 percent."

    Nobakht added that growth in the education, health, and social assistance sectors improved from 7.7 to 8.8 compared to the previous three-month period.

    Iran's GDP (including the oil sector) will reach $386.1 billion in 2016, the International Monetary Fund (IMF) forecast in April.

    The country's current-year economic growth is predicted to hit around five percent.

کتاب عملیات بانکی در عرصه بین الملل -سرفصل ها،ضمائم ،توصیه صاحب‏نظران ارزی و مدیران ارشد بانکی

Investment Consulting &Project Finance

Newsletter

Sign up for our newsletter