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04/17/13

IMF Says Iran's Economy Shrank In 2012

Source: RFE/RL

The International Monetary Fund (IMF) says Iran's economy shrank by 1.9 percent in 2012 and is expected to contract by 1.3 percent this year as it reels from the impact of Western sanctions.

The IMF says in its annual "World Economic Outlook" released on April 16 that Iran's economy is forecast to grow next year by 1.1 percent.

A Western ban on Iranian oil exports, which came into effect in July, hit the country's economy badly.

Middle East, North Africa, Afghanistan, and Pakistan:
2013 GDP Growth Forecasts
 
Country
GDP (%)
Afghanistan
3.100551
Algeria
3.327957
Bahrain
4.151903
Djibouti
4.963549
Egypt
2.006366
Iran
-1.25343
Iraq
9.042913
Israel
3.564245
Jordan
3.25
Kuwait
1.055092
Lebanon
2
Libya
20.18737
Mauritania
5.910382
Morocco
4.523727
Oman
4.158587
Pakistan
3.50493
Qatar
5.20084
Saudi Arabia
4.384579
Sudan
1.157148
Syria
Tunisia
4
United Arab Emirates
3.136473
Yemen
4.387218


International sanctions aim to reduce the country's revenues used for its disputed nuclear program.

The IMF report also lowered its 2013 forecast for gross domestic product growth for Russia to 3.1 percent from 3.8 percent as predicted in October.

In Ukraine, the IMF forecast zero growth for this year compared to a 0.2 percent rise in 2012.

Based on reporting by AP, AFP, and Reuters


Copyright (c) 2013 RFE/RL, Inc. Reprinted with the permission of Radio Free Europe/Radio Liberty, 1201 Connecticut Ave., N.W. Washington DC 20036. www.rferl.org

... Payvand News - 03/25/16 ... --



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