End of Iran's economic recession
News_Code: 355130 4/7/2021 1:36:19 PM
End of Iran's economic recession
The International Monetary Fund said in a new report that Iran's economy grew positively last year.

The International Monetary Fund (IMF) has updated its revised report on various countries' economic situation, with significant changes in the area of ​​Iran. A new IMF report also predicts that Iran's economic growth will be higher this year than last. The agency, which had previously predicted that Iran's economic growth in 2020 would be negative 5 percent due to the escalation of US sanctions against Iran and the widespread outbreak of Corona, has announced in its new report the final growth of Iran in the previous year with a significant correction, 1.5 percent.

Iran's economy also experienced negative growth in 2019 and 2018, shrinking by 6.5 and 5.4 percent, respectively, thus ending Iran's economic recession in 2020 officially.

Inflation decreases

As in the previous report, the International Monetary Fund has maintained its view that Iran's inflation rate is declining. The agency forecasts an inflation rate of 36.5 percent in Iran by the end of this year, which is 1.5 percent higher than the previous estimate. The International Monetary Fund has also announced that with the resumption of the downward trend in inflation, in 2022, we will see 27.5% inflation in Iran.  

In 2019 and 2018, Iran experienced inflation of 26 and 25 percent, respectively.  

Current account balance

This institution has forecast Iran's current account balance to be negative 0.7 percent of GDP this year and 1.3 percent of GDP in 2021. It is the first time in the last 10 years that this account has become negative in Iran. However, Iran still has one of the best conditions in the region and the world in this regard.  

Unemployment rate

According to the International Monetary Fund, Iran's unemployment rate will be 11.2 percent this year and 11.7 percent next year.