Iran’s Economy to Grow by 2% in 2023, IMF Predicts

Iran’s Economy to Grow by 2% in 2023, IMF Predicts

TEHRAN (Tasnim) – The International Monetary Fund (IMF) in its latest “Regional, Middle East and Central Asia Outlook” report said that Iran’s economy will grow as much as two percent in 2023 despite tough sanctions imposed against the country.

The Islamic Republic of Iran is predicted to curb skyrocketing inflation and liquidity and also to boom its oil exports in the global market, the IMF added.

Reviewing the outlook of 12 macroeconomic indexes of Iran in 2023, the IMF also announced that Iran’s crude export will rise up by twofold in the current administration of President Ebrahim Raisi.

The IMF predicted that Iran’s gross domestic product (GDP) will increase in this period while the inflation rate and liquidity growth will decline significantly.

The international monetary body forecast that Iran’s accessible Foreign Exchange Reserve (FOREX) will reach $23.2 billion this year.

Of the total 12 macroeconomic indexes, the IMF predicted that Iran would have a better situation in seven indexes in 2023 compared to a year earlier.

Iran will experience a two percent economic growth in 2023 while the country had a 2.5 percent economic growth in 2022.

The IMF put the average growth of Iran’s economy between 2000 and 2019 at over three percent.

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