CBI: Growth Rate  Likely to Beat Expectations
CBI: Growth Rate  Likely to Beat Expectations

CBI: Growth Rate Likely to Beat Expectations

CBI: Growth Rate Likely to Beat Expectations

The Central Bank of Iran has responded to media reports that viewed the latest World Economic Outlook by the International Monetary Fund in a negative light.
These reports cited IMF projections that Iran’s GDP growth for 2017 and 2018 will be 3.3% and 4.3% and the inflation rate will go up to double digits once again to reach 11.2% and 11% respectively. These figures were construed as a warning for the Iranian economy and a regression for the administration of President Hassan Rouhani.
In a statement posted on its official news website, CBI notes that the international entity has made its projections based on data collected up to December 14, 2016, which mostly consist of changes that took place during the first half of the previous fiscal year (ended March 20, 2017).
CBI adds that “predictions in the report have been made without considering the policy changes incorporated since that time”.
According to the central bank, the IMF report has not considered many developments, including a change in the country’s base year for calculating growth and changes in macroeconomic indices.
CBI refers to developments in the oil and gas sectors as a prime example. IMF registered a 6.6% GDP growth for 2016 -17 by considering a decline in crude oil exports, “while considering the developments of the first nine months of the previous year, growth is expected to be in double digits, which is twice the figure projected by IMF”.
In conclusion, the CBI statement predicts that in light of the collective monetary, fiscal, trade and foreign exchange policies, strengthening of local supply and an improvement in liquidity management, “ a good level of economic growth would result in tandem with the single-digit inflation” during the current fiscal year that began on March 21.

Short URL : https://goo.gl/S6VaZx
  1. https://goo.gl/TK9M4r
  • https://goo.gl/UnxkzI
  • https://goo.gl/Ts3TmA
  • https://goo.gl/JVdlpj
  • https://goo.gl/E5Ah0d

You can also read ...

Pretoria Hosts South Africa-Iran Business Forum (Photo: AfricaNewsAgency)
The South Africa-Iran Business Forum was held in Pretoria,...
485,000 New Jobs Averaged Annually Since 2013
An average of 485,000 jobs were created every year during...
Furniture Exports on Decline
Iran exported about $6 million worth of furniture during the...
About 1,837 million shares valued at $86.508 million changed hands at TSE on Oct. 23.
Tehran Stock Exchange’s main index lost 134.00 points or 0.15...
The health deal was signed in Iran’s Embassy in London on Oct. 23.
Iran’s Ministry of Health signed an investment and cooperation...
Renault Launches Used-Car Sales Scheme in Iran
Negin Khodro, the local official importer of Renault cars, has...
The fiscal 2014-15 was the worst year for the construction sector in recent memory, with growth rate reaching its nadir at -17%.
The research arm of the Iranian Parliament has forecast a...
Over 14.88 billion shares valued at $1.11 billion were traded at TSE over the past month.
Tehran Stock Exchange’s main index TEDPIX gained 648 points or...

Add new comment

Read our comment policy before posting your viewpoints

Enter the characters shown in the image.