IMF Predicts Inflation Rate in Iran to Shrink

According to the international monetary body, Iran’s economy will experience a two-percent growth in 2023 and 2024 after witnessing a 2.5 percent growth in 2022, showing negligible growth compared to the world’s economic growth average, Middle East countries and new emerging economies of the region.

But the prediction of high economic growth of countries including India and China as the two largest consumers of energy and oil in the world can be positive signs for the oil and energy export perspective and Iran’s total trade with these countries in particular following the promotion of Iran’s relations with the aforementioned countries within the framework of regional trade agreements like the Shanghai Cooperation Organization (SCO) and the Eurasian Customs Union.

The inflation rate in Iran is expected to be 42 and 30 percent in 2023 and 2024 respectively, the IMF said.