IMF says Iran rebounds after nuclear deal

صندوق بين‌المللي پول

Tehran (ISNA) – The International Monetary Fund says Iran's economy has rebounded after the nuclear deal with world powers, Associated Press reported.

The IMF released a report early on Tuesday that said Iran's real gross domestic product grew by 7.4 percent, recovering from a recession.

It attributed that growth largely toward oil production recovering after the atomic accord, which saw economic sanctions against Iran lifted in exchange for it limiting its enrichment of uranium.

However, the IMF warned that Iran's domestic banking sector needed reformed. It also warned renewed tensions with the U.S. "could deter investment and trade with Iran and short-circuit the anticipated recovery."

Growth is expected to be 6.6 percent in the calendar year ending March 20, reflecting the rebound in oil production and exports, and stabilize at 4.5 percent “over the medium-term as the recovery broadens,” the IMF said.

It also highlighted the government’s ability to maintain inflation in single digits and stabilize the foreign exchange market.

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