IMF: Iran's economy growing

The International Monetary Fund (IMF) has announced that Iran’s economy grew by 5.4% in 2023.

In its latest quarterly report the IMF put Iran’s economic growth at 5.4% in 2023 nearly 1.6% more than the country’s economic growth in 2022.  

The IMF has also reviewed its forecast of Iran’s economic growth for 2024 from 2.5% in October to 3.8%.

The IMF noted that increase in Iran’s economic growth happens at a time when global growth has slowed to 3.1%.

The average economic growth of the developed economies has been reported at 1.6% in 2023, while the figure stood at 2.6% in 2022.

Developing countries have also had an average growth of 4.1% last year, indicating that Iran's economy increased more than the average of its equivalents.