IMF anticipates 4.5% GDP growth for Iran in 2016

October 22, 2016

TEHRAN- The International Monetary Fund (IMF), in its latest report titled Regional Economic Outlook: Middle East, North Africa, Afghanistan, and Pakistan (MENAP), predicted a 4.5 percent real GDP growth for the Islamic Republic of Iran in 2016.

According to the report, Iran will experience a 4.1 percent GDP growth in 2017, while the country’s consumer price inflation will stand at 7.4 percent in 2016 and 7.2 percent in 2017.

Current account balance in Iran will hit 4.2 percent of GDP in 2016 and 3.3 percent of GDP in the year after.

For MENAP oil exporters, IMF foresees 4.7 percent inflation in 2016 and 4.2 percent one in 2017. The anticipated figures are 7.4 percent and 9.8 percent in 2016 and 2017, respectively, for MENAP oil importers.

Current account balance in MENAP oil exporting countries will reach -4.4 percent in 2016 and -1.8 percent in 2017. For MENAP oil importers, the factor will be at -4.8 percent in 2016 and -4.7 percent in 2017. 

Real GDP growth for MENAP oil exporters will stand at 3.3 percent in 2016 and 2.9 percent in the following year. The figures will be 3.6 percent and 4.2 percent for MENAP oil importers in 2016 and 2017, respectively.

Based on the report, oil prices remain the key driver of the outlook for MENAP oil exporters given their high dependence on hydrocarbon budget revenues and exports.

HJ/MA

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