Economic growth in 2nd, 3rd quarters of 2016: 7.4 per cent

Economic growth in 2nd, 3rd quarters of 2016: 7.4 per cent

Figures for the same period indicates that in fixed prices and basic prices, GDP (Gross Domestic Product) had a growth of 7.4 per cent compared to the same figures in 2015.

Tumbling oil prices and its negative shocks on economy in 2015 were factors to contribute to a declining growth rate; however, in 2016, the trend changed for the better, with other economic sectors following the suit of oil industry to producing more value to the exports. The report said a detailed prospectus will be published later by the CB where all figures on economic indicators will also be presented to the general public.

Source:Mehr