TEHRAN - The Central Bank of Iran (CBI)’s planning for the end of the next Iranian year (late March 2025) is to achieve a liquidity growth rate of 23 percent as well as a point-to-point inflation rate of 20 percent, CBI Governor Mohammadreza Farzin said.

Speaking in a meeting with the directors of the country’s banks, Farzin presented a report on the country's latest economic developments, and said: “According to official statistics, the economic growth rate of the country during the first nine months of this year was 4.5 percent, which is a favorable growth rate considering the current conditions and the growth rate of the countries in the region in 2023.”

According to the CBI governor, in the service sector, contrary to the low growth trend of the past years, the growth rate was about four percent, and in some sectors such as transportation and wholesale and retail sectors, suitable growth rates have been achieved.

Farzin put the growth rate of the agricultural sector in the mentioned nine months at 0.7 percent, which shows a slight decrease compared to last year.

In the industry and mining group, the growth rate was 3.9 percent, which has decreased compared to the same period last year. Of course, some sectors of the industry and mining subcategory had higher growth rates, the official said.

Referring to the Central Bank's actions to curb inflation and liquidity growth rate this year, he said: “At the beginning of this year, the country was faced with intensifying inflationary expectations and an increase in the inflation rate, especially in Farvardin [the first month of the Iranian calendar starting in late March]. In 1402, the price of consumer goods and services started to decrease considerably. According to the calculations of the Central Bank, the point-by-point inflation rate has decreased by 22 points from the beginning of this year to the end of February.”

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