International Monetary Fund (IMF)

Washington (IP) - International Monetary Fund (IMF) has predicted a 1.5% improvement in Iran’s economic growth for 2020 compared to 2019, amid the outbreak of coronavirus, while it said 'worst recession since Great Depression' is likely to happen in the world.

Iran Press/America: IMF announced in its latest report of World Economic Outlook on Tuesday that “although Iran’s economic growth is negative, its economy has improved in 2020.”

The Fund predicted that Iran’s economic growth would hit -5.985 percent in 2020 while its inflation rate would reach 34.2 percent, showing a considerable decline as compared to 2019.

It has evaluated Iran’s economic growth in 2019 at -7.586 percent.

Meanwhile, IMF said the global economy will likely experience the worst recession since the Great Depression’ concurrent with the outbreak of the novel coronavirus and closure of economic activities.

"It is very likely that this year, the global economy will experience its worst recession since the Great Depression, surpassing that seen during the financial crisis a decade ago," IMF Chief Economist Gita Gopinath wrote in the foreword for the fund's World Economic Outlook.

According to the report, Iran’s unemployment rate in 2019 and 2020 are at 13.6 and 16.3 percent respectively.


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