The International Monetary Fund (IMF) has projected a four-percent growth rate for Iran in 2016.
Iran's economy, which was flat last year, is set to grow by 4.0 percent this year and by 3.7 percent the next, said the IMF in its latest global forecast. The monetary organization cut its combined growth projection for oil-exporting countries to 2.9 percent this year from a forecast of 3.8 percent in October. The IMF report predicted the economies of the Middle East, North Africa, Afghanistan and Pakistan as a whole to grow by 3.1 percent in 2016 and 3.5 percent in 2017. That is worse than a January projection of 3.6 percent for each year. The outlook for the region, which grew by 2.5 percent last year, "has weakened considerably because of further declines in oil prices and intensifying conflicts and security risks," the IMF said. The oil-importing economies, such as Egypt, Pakistan and Tunisia, are together set to grow by 3.5 percent in 2016, down from 4.1 percent projected in October and worse than last year's 3.8 percent expansion.