Iran's GDP growth slipped to 4.7 percent in the year to June 21 from 7.1 percent for same period a year earlier, the Central Bank of Iran (CBI) reported.
The CBI report, posted on its Web site (www.cbi.ir), blamed a 3 percent contraction in the oil and gas sector during the period for the overall weaker growth in gross domestic product (GDP) in the year to June. Economic growth excluding the oil and gas sector during the period was 5.8 percent compared with 7.6 percent in the same period a year earlier.
Economic growth in the year to March was 5.4 percent. President Mahmoud Ahmadinejad campaigned on improving the economy in last year's presidential race. But economists say his government's spending policies are already pushing up inflation and he needs to attract more investment to create more jobs.
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