January 28, 2023

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IMF sees Iranian economy growing 3% in 2022

IMF sees Iranian economy growing 3% in 2022
IMF sees Iranian economy growing 3% in 2022

The International Monetary Fund (IMF) predicted that Iran’s economy will experience a positive growth of three percent in 2022, following its upward trend for the third consecutive year.

TEHRAN (Iran News) –The International Monetary Fund (IMF) predicted that Iran’s economy will experience a positive growth of three percent in 2022, following its upward trend for the third consecutive year.

IMF, in its latest World Economic Outlook report titled “Countering the Cost-of-Living Crisis” published on Tuesday, anticipated that Iran’s inflation rate and accounts balance will also improve in the current year.

The international body had put Iran’s inflation rate in 2021 at 40.1 percent, adding that not only Iran’s inflation rate will not increase in the current year as compared to a year earlier, but it will hit 40 percent at large, showing a bit decline.

The IMF also predicted that Iran’s balance of its current accounts in 2022 will double as compared to the same period of last year.

Accordingly, the balance of Iran’s current accounts in 2021 had been put at 0.6 percent of its gross domestic product (GDP), the rate of which will hit 1.6 percent in the current year.

Therefore, the IMF expects Iran’s economy to experience positive growth for the third year in a row in 2022 in spite of tough sanctions imposed by the United States against Iran.

Iranian economy experienced a 3.1 percent negative growth in 2019 following the U.S. maximum pressure policy imposed against Iran, IMF said, adding that Iran’s economy moved out of recession in 2020 despite the global coronavirus pandemic.

Earlier this week, World Bank also predicted the Iranian economy to grow by 2.9 percent in 2022.

In its latest economic report on the MENA region, dubbed “A New State of Mind: Greater Transparency and Accountability in the Middle East and North Africa”, the bank said that the Islamic Republic’s Account Balance is also going to improve in 2022 reaching 3.8 percent of the GDP. The figure stood at 3.5 percent last year.

  • source : Tehrantimes

Original News : https://irannewsdaily.com/2022/10/imf-sees-iranian-economy-growing-3-in-2022/

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