IMF Predicts Iran Economic Growth to Bounce Next Year
IRAN NEWS ECONOMIC DESK
TEHRAN – In its latest report, International Monetary Fund (IMF) on Wedesday announced that Iran’s economy will grow by 3.2 percent in 2021.
The latest report of the International Monetary Fund on the state of world economy and its future outlook, which was recently published, estimates that Iran’s economic growth in 2021 will hit 3.2 percent. This estimate shows that Iran’s economy has improved 0.1 percent as compared to the Fund’s previous estimate of Iran’s economic growth outlook for next year.
According to IMF, next year’s inflation rate in Iran will reach 30%, which shows a 3% decrease as compared to the Fund’s previous estimate for next year.
IMF also pointed to the unemployment rate in Iran and added, the unemployment rate in Iran, which is predicted at 12.2 percent for this year, has been estimated at 12.4 percent in the next year.
The international body estimates that the world economy will end the current year with a negative growth of 4.4 percent, which is an improvement of about 0.8 percent as compared to its previous report and estimate.
This improvement is due to increased hopes for the recovery of developed economies after the coronavirus global pandemic as well as alleviation of restrictions due to the implementation of health protocols such as social distancing and closure of businesses.
In its another report, the International Monetary Fund estimates that world economic growth will reach 5.2 percent in 2021, indicating a recovery in the global economy after the coronavirus pandemic.
This year, the economies of European countries will also experience negative growth; France and the United Kingdom will face negative growth of 9.8 percent, Italy will experience a negative 10.6 percent growth while Spain’s economy will shrink 12.8 percent.
India will record negative growth of 10.3 percent this year, according to the report.
Among the world’s economies, only China will grow positively this year, with economic growth estimated at 1.9 percent.