- Iranians holding Ashura mourning for Imam Hussein
- Third step: Iran officially informs EU of plan to expand nuclear R&D
- Iran expands nuclear R&D program: Rouhani
- Iran goes ahead in space tech, despite US sanctions: ISA
- Resistance Front undermining Israeli regime power: Top commander
- Iran: 7 crew members of detained UK ship freed
- US addiction to sanction threaten its power: Iran’s Zarif
- Dutch role in 2007 Stuxnet attack on Iran’s nuclear site under scrutiny: Iraian FM Spox.
- Iran: ‘Sustainable Security 2019’ kicks off in Caspian Sea
- Iran’s Zarif leaves Tehran for Moscow
- Shiraz University ranked 1st in liver transplantation: Iranian health official
- Japan’s Abe to meet Iran’s president to discuss easing tension in region
- Downing of US spy drone shattered war threats against Iran: Top IRGC commander
- IAEO head reports development of first ion-therapy hospital in west of Asia
- Iranian Taekwondo team wins 2019 World Cup championship
- US sanctions failed to force Iran to buckle: Report
- Crew fixing Iran oil tanker broken down in Red Sea
- As Iranians hold nerves, US seeks to scare off trade
- Leader expresses concern about Kashmir, urges India to follow fair policy toward Muslim-majority region
- Iran saffron exports down due to smuggling, government restrictions: Exporter
- Iran FM warns US against ‘serious miscalculation’ in Persian Gulf
- Iran’s resistance policy led to release of oil tanker: MP
- Iran in reverse brain drain as top students come home in rising numbers
- Iran official calls for compensation for tanker seizure
- Iran hails N Korea for standing against ‘unilateral’ US demands
- Shia Muslims celebrate Eid Al-Ghadir
- North Korea praises Iran’s anti-US struggle
- Zarif says to meet French president Friday
- Iranian court hearing case of UK oil tanker
- Over half of Japanese voters oppose joining US-led anti-Iran coalition in Persian Gulf: Poll
- IME trade ups by 21 percent in July
- Finland backs INSTEX in defiance of US
- US anti-Iran policy in high seas harms Europeans: LA Times
- Iran, China confer on Syria
- Iran, Finland share views on Persian Gulf dialogue forum: Zarif
- Iran warns US against seizure of oil tanker
- Iraq eager to benefit from Iranian Police’s experience
- Iran planning 3rd step to reduce nuclear commitments: Spokesman
- Leader grants clemency to over 1,000 Iranian inmates
- Registration for Arbaeen Pilgrimage to begin in Iran on Friday
- Iran, Iraq agree to reopen Khosravi border crossing
- Iran deplores suicide attack at Kabul wedding hall
- Iran to hold int'l hand-woven carpets expo
- Zarif meets with Iran-Kuwait Friendship Group members
- Adrian Darya oil tanker not under any sanctions, says Iran envoy
- ‘Iran to stay in nuclear deal as long as its interests are met’
- India envoy happy with positive trend of trade with Iran
- Iran’s annual export of white meat tops 2.5m tons: Minister
- Iranian scientist discovers new state of matter
- Iran, Japan diplomats discuss bilateral ties
- Iran, Ansarullah, European representatives Yemen developments
- ‘Iran to become self-sufficient in producing aircraft engines'
- US issues seizure warrant for Iranian supertanker 'Grace 1'
- Neanderthal tooth unearthed near Iran’s Zagros mountain
- Iran’s Zarif due in Kuwait on Saturday
- US faces humiliating defeat after Gibraltar releases Iranian tanker: Envoy
- Spokesman rejects claim on Iran’s commitment in exchange for tanker release
- Zarif reacts to release of Iranian tanker in Gibraltar
- Israel, UAE engaged in secret talks on Iran arranged by US: Report
- US threatens visa ban as Iranian-operated tanker sets to sail from Gibraltar
- Enemies must factor Iran's global power in their calculations: IRGC's chief commander
- Trump’s administration conflicting messages to Iran baffle go-betweens: Report
- Gibraltar releases Iran-operated tanker despite US pressure
Recent World Bank report titled 'Global Economic Prospects', predicted gross domestic product growth for Iran at 5.2 percent in 2017.
The report put Iran's GDP growth at 4.6 percent in 2016, while forecasting 4.8 percent and 4.5 percent growth in 2018 and 2019, respectively.Growth in Iran depends on successful negotiations of deals to bring in foreign investment to the country, but the forecast also reflects the government's intention to continue to expand oil production.
Yet GDP growth in Iran is estimated to have strengthened considerably last year, bolstered by large gains in oil production as well as automotive, trade and transport sectors, the report added.
An International Monetary Fund (IMF) mission visited Tehran from December 3 to 14, 2016 to discuss the annual review of the Iranian economy.
At the end of the visit, the mission made a statement about its preliminary findings.
"Higher oil production and exports, after the implementation of the Joint Comprehensive Plan of Action (JCPOA) should allow real GDP growth to rebound to 6.6 percent in 2016-17," the report added.
"Growth is projected to ease to 3½ percent in 2017-18 as oil production normalizes and non-oil sector growth remains modest," it added.
The report added the Central Bank of Iran needs to complete the unification of the exchange rate, which is behind schedule.
Tight banking sector supervision and regulation will help reduce high levels of nonperforming loans and increase low bank capital.
Global economic growth is forecast to accelerate moderately to 2.7 percent in 2017 after a post-crisis low last year as obstacles to activity recede among emerging market and developing economy commodity exporters, while domestic demand remains solid among emerging and developing commodity importers.
The outlook is clouded by uncertainty about policy direction in major economies. A protracted period of uncertainty could prolong the slow growth in investment that is holding back low, middle and high income countries.
"After years of disappointing global growth, we are encouraged to see stronger economic prospects on the horizon," World Bank Group President Jim Yong Kim said.
"Now is the time to take advantage of this momentum and increase investments in infrastructure and people. This is vital to accelerating the sustainable and inclusive economic growth required to end extreme poverty."
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