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News number: 9107111684

18:33 | 2012-10-09

Economy

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IMF Forecasts for Iran Show Limited Sanction Hit

TEHRAN (FNA)- Iran will manage to bring its inflation lower and return to growth next year despite Western sanctions over its nuclear program, according to projections from the International Monetary Fund.



The IMF forecasts, suggest that despite sanctions on Iran's oil exports, they are not likely to cause a collapse of its economy, Reuters reported.

In its semi-annual World Economic Outlook, the IMF forecast Iran's gross domestic product would shrink 0.9 percent this year.

The IMF expects a 3 percent decrease in Iran's inflation rate next year, saying inflation will moderate to 21.8 percent in 2013 from 25.2 percent in 2012.

The forecasts assume an average global oil price of $106.18 a barrel in 2012 and $105.10 in 2013, the IMF said.