TEHRAN (ISNA)- The International Monetary Fund (IMF) has released a report saying that Iran's Gross Domestic Production (GDP) would rise by 1.5 percent in 2014.
Iran's GDP has released a report contracted by 1.7 percent in the previous Iranian calendar year (which ended on March 20).

According to the International Monetary Fund's report, Iran had achieved considerable progress in raising per capita income and living standards in previous decades. The report said the figure would rise by 2.3 percent in 2015 and 2.4 percent in 2019.

IMF said that gross foreign assets of the Central Bank of Iran (CBI) rose to about $105 billion by end-2012/13.

According to the report, since the Presidential election in mid-2013, there have been some signs of stability.

"The exchange rate has appreciated markedly in the bureau/parallel market. The CBI has kept a lid on base money growth thanks to tighter credit to the banking system and some fiscal consolidation, and inflation has declined to about 29 percent in January 2014".

It is projected that economic activity would begin to stabilize in 2014/15, with real GDP projected to increase by 1-2 percent.

In the meantime, the authorities are taking steps to make the regulatory framework for foreign investment in the oil sector more attractive.

By ISNA

 

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