IMF Forecast: Stagflation in Iran's Economy Will Intensify
On the eve of the implementation of the final phase of US sanctions against Iran, the International Monetary Fund published a report, pointing out the severe consequences of these sanctions and predicting that the Iranian economy will suffer severe stagflation this year and next.
The International Monetary Fund, the most reputable institution overseeing the implementation of the monetary system in the world, has pointed out the negative impact of the return of US sanctions on the Iranian economy and has predicted that Iran's economy, which is heavily dependent on oil resources, will face negative growth of 1.5 percent this year and that the country's inflation rate will reach 29.6 percent in 2018.
According to the report, inflation will increase next year and reach 34.1 percent. Economic growth will also reach minus 3.6 percent during this period.
Recently, Brian Hook, head of the Iran Action Group, while outlining Washington's next steps against Tehran, emphasized reducing Iran's oil exports to zero.
Before the return of US sanctions, the International Monetary Fund had predicted that Iran's economic growth would be above 4% in 2018, but in its new report, it predicted severe stagflation for the country due to the decline in Iranian oil exports.
According to this report, the unemployment rate in Iran will be about 13 percent this year and 14.3 percent next year.
Source: Voice of America
