IMF: Lowest GDP growth rates among countries of Middle East and Central Asia to be in Iran
Azerbaijan, Baku, Oct. 26 / Trend A.Yusifzade /
Based on the resent "Regional Economic Outlook: Middle East and Central Asia" of the International Monetary Fund (IMF), the GDP growth rate of Iran will amount to 1.6 percent in 2010, which is one of the worst indicators on the percentage equivalent among the Middle East and Central Asian countries. In 2009, real GDP growth of Iran was 1.1 percent and the figure is expected to reach 3 percent in 2011.
The volume of nominal GDP of Iran is projected in the amount of $337.9 billion in 2010 compared to $325.9 billion in 2009. The figure will hit $342.3 billion, which is the highest in the Middle East region after Saudi Arabia's nominal GDP at $434.4 billion.
In 2009, the country's fiscal balance was -1.7 percent of GDP. In 2010, the IMF forecasted the figure to reach 0.4 percent of GDP and 2.4 percent in 2011. In 2009, the current account surplus amounted to 3.6 percent of GDP, and the figure is projected at 4.2 percent in 2010 and 4.5 percent in 2011.
In 2009, Iran observed a 13.5-percent inflation. In 2010, the consumer price index is expected to reach 8 percent and 10 percent in 2011.
The IMF projected the growth rates of the expanded money supply to decrease to 9 percent in 2010 compared to 21.7 percent last year. However, next year's money supply growth is expected to reach 16.8 percent.
Do you have any feedback? Contact our journalist at: email@example.com