Baku, Azerbaijan, Dec. 14
By Fatih Karimov – Trend:
The United Nations forecasts that Iran's GDP growth will decrease to 5.1 percent in 2018.
The UN said in its "World Economic Situation and Prospects 2018" report that the economic situation in the Islamic Republic has improved visibly in recent years.
In 2017, GDP growth remained relatively robust at 5.3 percent, after surging by an estimated 12.5 percent in 2016 due to a strong expansion of oil production and exports, the UN report said.
GDP growth is expected to remain above 5.1 percent in 2018 and 5 percent in 2019, supported by easing monetary conditions and an improving external sector, according to the UN forecasts.
However, the moderately favorable outlook is contingent upon the capacity to attract foreign investments and is subject to significant geopolitical risks and uncertainties, the UN underlined.
Iran’s GDP growth downed to -6.6 percent in 2012 under the pressure of the intensified international sanctions against Tehran due to its disputed nuclear program.
The growth revived to -1.9 and 4.3 percent in succeeding years, but decreased again to 0.4 percent in 2015, the last year of Iran under the sanctions.
Inflation in Iran is expected to reach 10.9 and 10.2 percent in Iran in 2018 and 2019, respectively, according to the UN forecasts.
The inflation in the Islamic Republic amounted to 9.6 percent in 2017.