News dalla rete ITA

31 Maggio 2023

Iran

CBI’S FARZIN TO MEET IMF OFFICIALS IN WASHINGTON

The governor of the Central Bank left for Washington to meet officials from the International Monetary FundMohammad Reza Farzin is accompanied Mohsen Karimi, the CBI deputy for international affairs. The Islamic Republic of Iran is currently a member of the IMF Board of Governors.No details about the itinerary were announced by the central bank. Farzin, a former head of Bank Melli Iran, was appointed CBI governor in late December. He replaced Ali Salehabadi who as the helm for barely over a year during which the national currency plunged to record lows.The IMF has updated its projections about Iran’s economy in its new World Economic Outlook report. It forecast Iran’s real GDP growth to stick around 2% in 2023 and 2024, down from 2.5% last year.The report also expects inflation to decrease from 49% in 2022 to 42.5% this year and further to 30% in 2024. Current account balance is forecast to drop from 4.7% last year of GDP to 1.8% this year and rise slightly to 1.9% next year.Unemployment is forecast to rise from 9.5% in 2022 to 9.8% in 2023 and 10.1% in 2024.The international lender expects global growth to bottom out at 2.8% this year before rising modestly to 3% in 2024. “Global inflation will decrease, although more slowly than initially anticipated, from 8.7% in 2022 to 7% this year and 4.9% in 2024,” the report said. The IMF report came after the World Bank said it expected Iran’s economy’s growth to decelerate amid intensifying economic sanctions and decline in oil prices. Deceleration “Because of intensifying economic sanctions, Iran’s growth will likely remain at low levels. As oil prices decline, Iran’s GDP is forecast to grow 2% in 2023. This represents a deceleration from 2.7% growth in 2022, which was constrained by water and electricity shortages as well as political instability,” reads the new MENA Economic Update for April.The report forecasts Iran’s GDP to decline further to 1.8% in 2024.As for real GDP per capita, the World Bank expects the growth to decline from 3.9% in 2021 to 2% in 2022. It is forecast to drop to 1.3% in 2023 and further to 1% in 2024.The World Bank forecast Iran’s current account balance to decline from 3.8% of GDP in 2022 to 3.1% in 2023 and 2.3% in 2024.Much of the recent economic growth in Iran was due to the  surge in oil sales, as indicated by domestic reports.Latest data released by the CBI show oil registered the highest growth among economic sectors during the first three quarters of last fiscal year (March 21-Dec. 21, 2022).According to the CBI, GDP grew by 3.7% during the period compared to the same period in the preceding year. Minus oil, the growth rate was 3.2%.Key economic sectors such agriculture, oil, industries and mines, and services registered 1.1%, 9.3%, 5.6% and 2.8% growth, respectively. According to the CBI, Q1, Q2 and Q3 rates stood at 2.2%, 3.6% and 5.3%.The central bank’s report came a few days after the Statistical Center of Iran put Q1-3 economic growth at 3.3%, saying without oil it stood at 2.9%.According to the SCI, the industries and mines and services groups registered 5.3% and 2.6% growth, respectively while   “agriculture contracted by 4.3%.The broad industries and mines group has five sub-categories: crude oil extraction, other mines, industry, energy and construction, which registered 5.6%, 0.9%, 5.1%, 9.5% and -2.2% growth, the center said.  (ICE TEHERAN)


Fonte notizia: Financial Tribune