Thursday, November 01, 2007

IMF Forecast Economic Growth 6%, Inflation 17.5% -For Iran

TEHRAN--The International Monetary Fund has predicted Iran’s economic growth and inflation rates will reach 6 and 17.5 percent respectively by the end of the current Iranian year (March 19, 2008). In its latest report dubbed “Regional Economic Outlook: Middle East and Central Asia“, the IMF announced that Iran’s economic growth rate was 4.9 percent in the last Iranian year (ended March 20, 2007), ISNA reported.

The report also added that some Middle East countries, including Iran, will experience a double-digit inflation rate due to a rise in salaries and distribution problems, which will eventually result in inflationary pressures.

IMF estimates Iran’s nominal Gross Domestic Product to exceed $324 billion in 2008. The current nominal GDP stands at $278 billion.

The IMF has also estimated Iran’s GDP in the oil and non-oil sectors to remain at the current 2.1 and 6.5 percent respectively in 2008.

The inflation rate will decline to 16.7 percent in 2008 from the current 17.5 percent.

According to IMF, liquidity growth will be 48.8 percent in the current Iranian year and 32.1 percent in the next Iranian year.

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