Iran’s non-oil growth too low


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The lifting of nuclear sanctions under the Joint Comprehensive Plan of Action (JCPOA) has spurred growth, but banking system weaknesses, structural bottlenecks, and hesitation by foreign banks to re-establish financial links have held back expansion of non-oil activity, according to the latest IMF report on Iran. Real GDP grew by 7.4 percent in the first half 2016/17, rebounding from recession in 2015/16. However, growth in the non-oil sector averaged just 0.9 percent.

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