IMF Announces Rise in Iran’s Foreign Exchange Reserve

The International Monetary Fund (IMF) in its latest economic report announced that Iran’s foreign exchange reserve has witnessed a significant growth.

In its latest World Economic Outlook report, the IMF said the Iranian reserve of foreign exchange rose by 14.3 billion dollars in 2015, registering a record of 125.9 billion dollars.

The report at the same time noted that the reserve could slightly slim and settle at $125.6 billion this year.

Similarly, the international financial organization forecasted the country’s gross domestic product (GDP) to hover around $386 billion in 2016 from last year’s $387.7 billion, Press TV reported.

The report, which projected the world economy to gain 3.5% in 2016, forecasted a four-percent growth for the Iranian economy, compared to its last year announcement of zero percent.

The IMF also estimated Iran’s double-digit inflation rate of nearly 12% to lower and reach 8.9 percent throughout this year.