Baku, Azerbaijan, March 10
By Khalid Kazimov – Trend:
Iran’s economy offers a promising outlook for the coming fiscal year (starts March 20), Government Spokesperson Mohammadbaqer Nowbakht said.
“Iran’s economic prospect for the coming year is promising. In collaboration with National Development Fund of Iran and private banks, we have allocated over 126 trillion tomans ($36 billion) to development projects,” IRNA news agency quoted him as saying on Monday.
Forecasting a bright outlook for Iran’s economy over the coming year, he said Iran sold oil below $40 per barrel, but its price has now surpassed $60 per barrel and the average price of Iran’s oil stands at about $51 per barrel.
The International Monetary Fund (IMF) through its latest report has anticipated a real gross domestic product (GDP) growth of 3.8 percent for Iran in 2018.
The figure shows improvement from the international body’s announced outlook for 2017, which was 3.5 percent.
The IMF expects Iran’s inflation rate to decrease to 10.1 percent in 2018 from its previous 10.5 percent in 2017.