Iran making good progress on manufacturing, economic growth: Raisi
Iranian President Ebrahim Raisi highlights the country's journey toward economic growth on the National Day of Industry and Mines in Tehran.
Iranian President Ebrahim Raisi revealed that a simple examination of economic indicators demonstrates that the country has started a journey toward economic growth, encouraging Iranians to place additional effort and collaborate to strengthen the manufacturing sector in Iran.
During a speech he delivered on Saturday on the National Day of Industry and Mines in Tehran, Raisi said his administration would work to prevent any closure or scale-down of activity in the Iranian manufacturing sector.
He explained that given Iran's position in regional and global trade, the country should try to remove obstacles in the way of the manufacturers and people active in the Iranian mining and metals sector.
Based on existing factors, Iranian manufacturers have made good progress in investment, employment, and machinery, Raisi said, adding that a significant advancement was recorded in the knowledge-based sector of the economy and fundamental science and technology projects.
Iran defies blockade
In an interview for IRNA on June 24, Iran’s Oil Minister Javad Owji disclosed that energy diplomacy with Asian, African, and Latin American countries helped Iran expand its oil market and promised that great news on oil sales is soon expected.
According to the Minister, Iran's oil exports increased to 1.9 million barrels per day (bpd) in May, citing President Ebrahim Raisi.
In early June, Owji stated that those who imposed sanctions on Iran believed they could stymie Iran's growth and advancement by using the terroristic weapon of sanctions, despite the fact that it is a double-edged sword with which they must contend.
Owji added that foreign agencies that monitor the countries' oil exports have recorded an increase in Iran's output and exports.
Reuters released a report detailing that Iran's crude exports and oil output will reach new heights in 2023 despite US sanctions, contributing to world supply at a time when other producers are cutting output.
Tehran's oil exports have been restricted since former US President Donald Trump abandoned a 2015 nuclear deal and reimposed sanctions aimed at limiting oil exports and the related revenue to Iran's government in 2018.
Nonetheless, exports have increased during the presidency of his successor, Joe Biden, according to the research.
Earlier last month, the World Bank expected a 2.2% expansion in Iran's economy this year, despite the continued pressure of the US sanctions on the country's economy.
The World Bank's latest Global Economic Prospects report included tables demonstrating that the development lender had revised its January growth outlook for Iran in 2023 from 0.0% to 2.2%. The organization forecasted that real global gross domestic product (GDP) is set to climb 2.1% this year.