IMF forecasts 4% growth for Iranian economy

The International Monetary Fund (IMF) has projected a four-percent growth rate for Iran in 2016 while maintaining a gloomy outlook for Saudi Arabia.

Iran’s economy, which was flat last year, is set to grow by 4.0 percent this year and by 3.7 percent the next, said the IMF in its latest global forecast.

The monetary organization cut its combined growth projection for oil-exporting countries to 2.9 percent this year from a forecast of 3.8 percent in October.

IMF’s World Economic Outlook said the Saudi economy will only grow by 1.2 percent in 2016, the lowest in seven years, and by 1.9 percent next year.