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Iran's GDP to grow by $55.5B: The Economist


Source: Mehr News Agency, Tehran

The Economist stated in its latest report that Iran's Gross Domestic Product (GDP) in the current calendar year (began March 21, 2010) would rise by $55.5 billion, adding that the GDP figure would double in the next five years.

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ISNA news agency quoted The Economist's February 2010 report stating that GDP in Iran had increased from $361.3 billion dollars last year to $416.7 billion in the current year.

The report estimated that the steady increasing trend of GDP in Iran would continue to reach the figure to $701.9 billion in 2013.

GDP is a measure of economic activity in a country calculated by adding the total value of a country's annual output of goods and services.

Iran inflation rate declines to 10.8%

The Central Bank of Iran (CBI) stated that the inflation rate in the past Iranian calendar year of 1388 (ended March 20, 2010) was 10.8 percent.

The CBI report showed that the inflation rate in the Iranian calendar year of 1387 (March 2008 to March 2009) was 25.4 percent, the Mehr News Agency reported.

The index also showed that the index price for consumer goods and services in urban areas increased 1.8 percent in the last month of the year compared to its preceding month.

In comparison to the same period a year before the index showed a 10.4 percent increase.

The inflation rate during the Iranian calendar month of Bahman (January 20, 2010 to February 20, 2010) was 11.3 percent.

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