IMF hails Iran’s economic performance after sanctions relief

Tasnim – The International Monetary Fund (IMF) hailed Iran’s economic performance following the removal of anti-Tehran sanctions, noting that the country has taken good steps to recover its economic conditions in recent years.

The IMF in an annual report on Iran’s economic performance said that the Islamic Republic has done well in recovering economically, Star Tribune reported on Tuesday.

The report also said that the country is expected to see non-oil growth accelerate from under 1 percent in 2016 to almost 3.5 percent in 2017.

“6.5 million people will be entering the workforce by 2022 in the oil-exporting countries of the (P)GCC, Iran and Algeria, meaning these countries will urgently need to create more private sector jobs,” it further said.

Iran and the Group 5+1 (Russia, China, the US, Britain, France and Germany) reached the Joint Comprehensive Plan of Action in July 2015 and started implementing it in January 2016.

The nuclear deal terminated all nuclear-related sanctions imposed on Iran.