Feb 11, 2020 17:35 UTC
  • Iran gradually emerging from recession: Chief banker

The governor of the Central Bank of Iran (CBI) has said that the economy is emerging from a recession that began nearly two years ago when the United States imposed its unilateral sanctions on Tehran.

According to Press TV, in a social media post on Tuesday, Abdolnasser Hemmati dismissed claims that the Iranian economy could fall deeper into recession over renewed tensions with the US and said that major economic indicators showed the opposite.

“CBI indicators show that the economy is emerging from recession with an improvement in the general circumstances,” Hemmati said on Instagram.

He cited reports by the CBI and the Statistical Center of Iran suggesting that the economy had started to grow regardless of the share of oil revenues in government budgets.

He also said that rampant inflation that caused a major slowdown in the economy after Washington imposed its sanctions in November 2018 had been brought under control.