Baku, Azerbaijan, Jan. 15
By Fatih Karimov – Trend:
An Iranian parliamentary research center has forecasted that Iran’ inflation rate in next fiscal year(to start March 20, 2018) will become 11.5 percent.
The Iranian Parliament Research Center also estimated that the inflation rate for the current fiscal year (started March 2017) will be 10.5 percent.
According to the research center, the inflation is estimated to hit 14.3 percent in next fiscal year, if the government increases energy carrier prices.
Iran’s inflation rate had climbed above 30 percent, before President Hassan Rouhani came to power in mid-2013. Nonetheless, for the first time over the past 26 years, that figure declined into a single-digit row, bottoming out at 8.6 percent in June 2016. Despite that fact, according to the country’s Central Bank report for the 12-month period ending on Dec 22, 2017, inflation rate peaked at 10 percent.
The research body of Iranian parliament also forecasted that economic growth of the country in the currency fiscal year would stand at about 4.1 percent.
This is while the Central Bank of Iran (CBI) put the rate for the last fiscal year at 12.5 percent, thanks to Iran’s huge oil exports following the removal of international sanctions.
The GDP growth for the next fiscal year is also estimated to hit 3 percent, according to the center.
The World Bank has forecasted that Iran’s economic growth will reach 4 percent in 2018.
The WB recently said in its Global Economic Prospects report that Iran’s economic growth is projected to reach 4 percent in 2018 and 4.3 percent in 2019.
Iran’s GDP growth downed to -6.6 percent in 2012 under the pressure of the intensified international sanctions against Tehran due to its disputed nuclear program.
The growth stood at -1.3 percent in 2015, the last year of Iran under the sanctions, and then surged to 13.4 percent in 2016, however it downed again to 3.6 percent in 2017, according to the WB.