IMF predicts improvement of Iran’s economic growth, inflation rate in 2020

In its latest report of World Economic Outlook, International Monetary Fund (IMF) announced, “although Iran’s economic growth is negative, its economy has improved in 2020.”

IMF predicted that Iran’s economic growth would hit -6 percent in 2020 while its inflation rate would reach 34.2 percent, showing a considerable decline as compared to a year earlier.

In addition, Iran’s unemployment rate would record a 16.3 percent hike in 2020.

IMF has predicted Iran’s economic growth in 2020 at -5.985 percent.

Despite negativity of Iran’s economic growth in 2020, IMF predicted that Iran’s economy would improve in the current year in 2020 as compared to a year earlier.

The international body put Iran’s economic growth in 2019 at -7.586 percent.

In its previous report of Iran’s economic growth, IMF had announced country’s economic growth in 2019 at -9.45, the rate of which has been corrected at its new report.   

According to IMF, Iran’s economic growth would improve at the condition that unprecedented recession and economic downturn has hit the world concurrent with the outbreak of the novel coronavirus and closure of economic activities.

This international body has put the unemployment rate in 2019 and 2020 at 13.6 and 16.3 percent respectively.

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