Thursday, November 17, 2011

iran economic growth forecast 2011-2012

World Economic outlook - iran economic growth forecast 2011-2012 : International Monetary Fund in its latest report predicted an economic growth of 2.5% for Iran in 2011, Iranian media reported.

The average growth of 40 countries in the Middle-East and Central Asia would however reach 3.9%. Oil rich countries in the region would top even a higher growth rate of 4.9%, the IMF predicts.

IMF believes that Iran’s low growth rate in 2011 was due to economic reform and elimination of subsidies paid heavily on different energy carriers and the country would achieve 3.4% growth rate in 2012.

Based on the report Iran’s GDP in 2010 was $407 bn which will increase by $68 bn reaching $475 bn in the current year.

Crude output will remain in this year unchanged and at 3.6 m bpd comparing to 2010. Another crucial data in the report was the foreign currency reserves of Iran indicated by $78.9 bn in 2010 which would top $105 bn in 2011, showing an increase of about $26 bn. IMF also says that the current inflation rate of 22.5% will fall to 12.5% in the next year./-

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