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Inflation rate in Iran predicted to fall to 21 percent

Business Materials 3 November 2012 12:35 (UTC +04:00)

Azerbaijan, Baku, Nov.3/ Trend G.Mehdi/

The Economist Intelligence Unit has predicted that the inflation rate in Iran will fall from 30 percent in the current year to 21 percent in the next Iranian calendar year, ISNA reported.

In its October report, The Economist predicted that the inflation rate will decline to 17 percent in the calendar year, which ends in March 2015.

Meanwhile, International Monetary Fund (IMF) says Iran will manage to bring its inflation rate lower and boost its economic growth in 2013 in terms of Western sanctions imposed on the country.

In its semi-annual World Economic Outlook report on October 9, the IMF predicted a trade surplus for Iran in 2012 and the following year and that the Western bans on Iran's oil will not be able to stunt the Islamic Republic's economy.

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