IMF predicts better economic conditions for Iran in 2014

TEHRAN (FNA)- The International Monetary Fund (IMF) announced that the negative economic growth for Iran will near zero and inflation will also be curbed in the coming months.

The IMF made the announcement in its latest report on Iran’s economic conditions after a 10-day visit by its experts to Tehran.

The IMF predicted that the average inflation rate in Iran would fall moderately to 21.1 percent in 2014, from 27.2 percent in 2013.

In September, Iranian President Hassan Rouhani and IMF Chief Christine Lagarde met at the United Nations during which they discussed Iran’s economy.

In a statement after the visit of IMF experts to Tehran,  the IMF said they discussed Iran’s high inflation and ways to restore economic growth, as well as its plans to address subsidy reform and other structural issues.

“The authorities’ understanding of the challenges and the high expectations of several sectors in the economy provide a timely opportunity for advancing such reforms, notwithstanding the difficult external environment,” the IMF said.

In a similar report in October 2012, the IMF said Iran would manage to bring its inflation rate lower and boost its economic growth in 2013 despite Western sanctions imposed on the country.

In its semi-annual World Economic Outlook report, the IMF predicted a trade surplus for Iran in 2013 and suggested the Western bans on Iran’s oil would fail to affect Iran’s economy.

By Fars News Agecny

 

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