Iran 2nd largest economy of region in 2016, IIF says

Tehran, November 16, The Iran Project- The Institute of International Finance (IIF) says Iran will rank 2nd largest economy after Saudi Arabia in the Middle East in next year.

Based on a conducted survey, the Institute of International Finance which is located in Washington, has predicted that in post-deal era, Iran’s economy is expected to be the best performer among the Middle East and North African countries in 2016.

This research institute survey also estimated that while the economic growth rate of MENA region (Middle East and North Africa) countries from 2005 to 2014 has been averaged 4.5%, the MENA economic growth rate will be no more than 3% in the current year which is mainly due to the global oil price drop.

Noting admissible economic growth of only a few countries in the region in next year, the survey added that Islamic Republic of Iran’s economy will remarkably show a major growth of 6% in 2016.

Dr. Garbis Iradian, IIF Deputy Director in Africa and Middle East Department also said that Iran will be the Middle East’s second-largest economy behind Saudi Arabia and ahead of United Arab Emirates.

As the global association of the financial industry, the Institute of International Finance embodies close to 500 members from 70 countries whose main mission is to support the financial industry in the prudent management of risks.