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Public Consumption Expenditure (USD mn)
29,678.98 (Mar 2021)
Public Consumption: % of GDP (%) 12.7 (Mar 2021)
Investment: % of GDP (%) 32.1 (Mar 2021)
Gross Fixed Capital Formation (USD mn)
75,233.66 (Mar 2021)
Gross National Product (USD mn) 833,301.44 (2020)
Gross Savings Rate (%) 36.9 (Mar 2021)
Source: CEIC Data
3.2 Macroeconomic outlook
IMF sticks with 2.5% growth forecast for Iran in 2021
The International Monetary Fund (IMF) in its latest World Economic Outlook published on October 13 has stuck with its forecast for a 2.5% expansion in Iran’s economic growth. The Fund also predicted that figure in April.
However, the IMF now calculates 2020 GDP growth in Iran was 3.4%, up from its previous suggestion of 1.5%. For 2022, it anticipates 2.0%.
The outlook also said that Iran’s consumer price inflation looks set to decrease from a projected 39.3% in 2021 to 27.5% next year. It estimated that consumer prices rose by 36.4% in 2020.
The Fund saw Iran’s unemployment rate as creeping up from 9.6% in 2020, to a forecast 10% in 2021 and a projected 10.5% in 2022.
As regards Iran’s current account balance, the IMF calculated that it would move from a 0.1% deficit in 2020 to a positive 1.3% in 2021 and 1.0% in 2022.
16 IRAN Country Report November 2021 www.intellinews.com