Iran Press/Iran news: In its latest report of World Economic Outlook, International Monetary Fund (IMF) predicted that Iran’s economy will experience a 0.2 percent growth by 2020.
According to statistics, IMF put Iran’s economic growth rate in 2018 at -3.9 percent, the figure of which hit -6 percent in the current year in 2019 following the exacerbation and intensification of US unilateral sanctions imposed against the Islamic Republic of Iran.
However, discharge of impact of sanctions will play a leading role in positivity of Iran’s economic growth in coming year, so that such positive economic growth of the country will continue at least by 2024.
The Fund cited the impacts of US sanctions on Iran’s oil industry as a major element that could weaken the world’s economy in future.
US persues policy of preventing Iran's oil exports
The projections come as Washington has dramatically increased its economic pressure on Iran since US President Donald Trump withdrew from a major international agreement on Iran’s nuclear program in May last year.
In a bid to offset the impacts of sanctions, Iran has embarked on various programs to diversify the economy and help non-oil exports as it seeks more access to foreign currencies at the time of reduced crude exports.
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