International Monetary Fund’s report on the oil growth of Iran’s economy

According to Energy Press, the International Monetary Fund in the Middle East and Central Asia regional report that was recently published predicted that the value of Iran’s gross domestic product will increase by 61 billion dollars in 2024 compared to 2023 and reach 464 billion dollars. Iran’s economy will grow by 3.3 percent this year, which will be higher than the 20-year average growth rate between 2000 and 2020, which is 3 percent.

This report estimated the growth of Iran’s non-oil economy at 3.8% in 2023 and predicted this figure to reach 3.3% this year. The oil sector of Iran’s economy registered a significant growth of 15% last year. It is predicted that the growth of this sector will reach 2.9% in 2024.

The inflation rate in the country has been declining for the past three years, and according to the International Monetary Fund, this trend is expected to continue for at least the next two years. Iran’s inflation rate decreased to 41.5% in 2023 and is expected to reach 37.5% in 2024 and 32.5% in 2025.

The liquidity growth rate in 2023 was 34.7% and it is expected that this figure will decrease to 32.9% in 2024. The average growth of liquidity during the years 2000 to 2020 has been calculated as 26.5%.