Source: Mehr News Agency, Tehran

At a time when the global economic meltdown has reduced or stopped economic growth in many countries, The Economist news and international affairs publication stated that Iran's economic growth will reach 3.5 percent this year.

Global Economic Prospects 2010: Crisis, Finance, and Growth

In its June report on economic growth, the weekly published that they predict economic growth will improve in Iran relatively, the Islamic Republic of Iran News Network quoted.

The magazine cited higher oil prices and an increase in crude output as the reasons behind the cited economic expansion in Iran.

Meanwhile, the report read that this growth was less than that of the past few years because of lower oil prices and the sanctions imposed on Iran.

The Economist also stated that the GDP rate in Iran will go up this year and next year.

Taking into consideration all these factors the publication foresees a 3.5 percent economic growth for Iran in the calendar year of 1390 (starting March 2011).

The Economist forecasted a 4 percent growth from 1391 to 1393 of the Iranian calendar.

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