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IMF predicts a bright prospect for Iran's economy

International Monetary Fund says Iran's economy faces a bright prospect in the years 2003-2004 due to its successful economic reforms package, IRNA reported from Tehran.

International Monetary Fund (IMF) in a report said Iran's economy had passed at desirable stage in the 2002-2003 period due to growth in its gross domestic product, falling unemployment rate in recent years, reduction in its foreign debts and growth in its international reserves.

IMF also welcomed progress in Iran's economic reforms plan, including liberalization of trade, establishment of private banks, ratification of the law on direct foreign investment, and an amendment to taxation law.

It said Iran's economy has over the past couple of years been showing highest growth rate in the Middle East and North Africa for an increase in foreign investment, economic reforms and stable oil price.

IMF said in its website that a team of IMF experts, led by Abdolali Jebeli, Deputy Director of the IMF MidEast Department, who had just completed research on Iran, also hailed Iran's economy for its transparency, encouraging Iranian officials to go ahead with their reforms plan and get private sector further involved in the economic sector.

IMF voiced readiness to provide Iran with necessary technical support in its reforms drive.

Iran has reportedly stood first in Middle East and North Africa with an economic growth rate of 7.3 percent, excluding oil.

IMF said a 10.2 percent growth in the country's agriculture sector and 11 percent in its industry and other sectors had helped the country push up its ranking in the list.

... Payvand News - 7/6/03 ... --

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