November 29, 2024
The International Monetary Fund (IMF) predicts that inflation in Iran this year will fall to 31.7 percent, a dramatic improvement after three straight years of inflation running above 40 percent, but still the 10th worst rate in the entire world of more than 200 economies.
The IMF also projected Iran’s economic growth the increase in its gross domestic product (GDP) would come in at 3.7 percent, not anything earthshattering but above the global average. Still, it’s a big drop from last year’s 5.0 percent.
At 3.7 percent, Iran would be well ahead of the United States, with estimated GDP growth of 2.8 percent, though far from the world leader, Guyana, which is expected to enjoy its fifth straight year of massive expansion, with GDP up 43.8 percent as it becomes a major crude oil producer.
Iran would also not be that far behind China, which is projected to drop to 4.8 percent this year. The projections appear in the IMF’s semiannual publication World Economic Outlook. The IMF calculated Iran’s GDP growth last year at a strong 5.0 percent.
Iran is projected to slip to 3.7 percent this year and further to 3.1 percent next year a long way from the 8.0 percent that the Islamic Republic always projects for its annual growth but has not achieved since 2016 when sanctions came off after it signed the JCPOA nuclear deal with the US and GDP surged 8.8 percent.
