IMF Projects 2.5% Economic Growth for Iran in 2021

The International Monetary Fund expects Iran’s economy to grow by 2.5% in 2021.
In its new World Economic Outlook report titled “Managing Divergent Recoveries”, IMF has put Iran’s GDP growth in 2020 at 1.5%. Projection for 2022 is at 2.1%.
According to IMF, the country experienced a 13.4% growth in 2016, the year Iran’s nuclear deal with world powers, formally known as the Joint Comprehensive Plan of Action, was implemented, i.e., international sanctions against the Islamic Republic were lifted.
The massive growth was followed by a further 3.8% in 2017. But with the walkout of the US from JCPOA under the administration of Donald Trump and introduction of new rounds of sanctions, the Iranian economy shrank by 6% and 6.8% in the following two years.
In its preface, the “Managing Divergent Recoveries” report refers to implications of Covid-19 for the world economy and says: “We are now projecting a stronger recovery in 2021 and 2022 for the global economy compared to our previous forecast, with growth projected to be 6% in 2021 and 4.4% in 2022. Nonetheless, the outlook presents daunting challenges related to divergences in the speed of recovery both across and within countries and the potential for persistent economic damage from the crisis.”