(Persia Digest) – In its latest 6-monthly report, the International Monetary Fund (IMF) has published its forecasts on Iran and the world, naming Iran as leading regional economic growth among oil producing countries.
Based on the report, the rate of economic growth in Iran was 4.3 percent last year. The growth rate for 2018 and 2019 is estimated to exceed the 4 percent mark. In its report released in October last year, the IMF forecast for Iran's economic growth rate was estimated at 3.5 percent for 2017 and 3.8 percent for 2018; these figures have improved in the recent report.
Based on the rates predicted by the IMF for growth in the economies of oil producing states in the Persian Gulf, Iran has been the leading country in 2017 and 2018, and Iraq is predicted to lead in 2019. But overall, Iran's economic growth rate is projected to be higher than the Persian Gulf oil-producing countries for a total of all 3 years.
The IMF also predicts a 3.9 percent global economic growth rate for 2018 and 2019. It reports that this rate was significantly boosted to 3.8 percent in 2017 by the significant rise in trade.
Iran's inflation rate was 9.9 percent last year, according to the report. It has been projected at 12.1 and 11.5 percent for 2018 and 2019 respectively. Unemployment rates are placed at 11.8 percent for 2017, and 11.7 and 11.6 percent for 2018 and 2019 respectively.
Accordingly, Iran's current account balance last year was 4.3 percent of its GDP. This is forecast at 7 and 6.3 percent respectively for 2018 and 2019.