The Economist predicts Iran’s trade balance deficit will decrease
Azerbaijan, Baku, Jun.11/ Trend F.Karimov/
The Economist intelligence unit has predicted that Iran's trade balance deficit will decrease in the coming years, the Jahan-e Sanat Persian language daily reported.
In its April report, The Economist has put Iran's trade balance deficit in the past year at $8.8 billion (-1.8 per cent of the GDP) and predicted that the figure will decrease to $6.1 billion in the current year (-1.1 per cent of GDP).
The figure will reach $4.5 billion and $1.8 billion in the next two years.
Then it will remain unchanged for a year and reach $1.2 billion a year later (-0.1 per cent of GDP), according to the report.
The International Monetary Fund said on April 16 that Iran's economy contracted by 1.9 per cent in 2012 and is expected to shrink by 1.3 per cent this year as it reels from the impact of Western sanctions.
The economy of the Islamic republic is however, forecast to grow next year by 1.1 per cent the IMF said in its annual World Economic Outlook.
The IMF said the 'macroeconomic environment is likely to remain difficult given the sharp depreciation of the currency and adverse external conditions which would sustain inflation at relatively high levels'.