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Public Consumption Expenditure (USD mn)
21,738.10 (Dec 2020)
Public Consumption: % of GDP (%) 9.7 (Dec 2020)
Investment: % of GDP (%) 26.2 (Dec 2020)
Gross Fixed Capital Formation (USD mn)
58,976.19 (Dec 2020)
Gross National Product (USD mn) 581,697.96 (2019)
Gross Savings Rate (%) 41.5 (Dec 2020)
Source: CEIC Data
3.2 Macroeconomic outlook
IFF forecasts Iranian growth in relation to three possible outcomes of nuclear deal ‘restart talks’
The Institute of International Finance (IIF) has forecast three economic scenarios for Iran in relation to the outcome of the ongoing Vienna talks to revive the 2015 nuclear deal, or JCPOA, between the Islamic Republic and major powers.
The first scenario predicts expected GDP and other indicators should the JCPOA negotiations produce a restart of the same deal signed six years ago, prior to the former US Trump administration unilaterally pulling Washington out of it three years ago; the second scenario assesses likely economic progress should an expanded JCPOA be signed; and the third scenario looks at likely consequences should the talks fail.
Old deal
If there is a return only to the terms of the 2015 deal, Iran’s real GDP could
16 IRAN Country Report September 2021 www.intellinews.com