Monday, 15 October, 2018

IMF reiterates positive data on Iran economy

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TEHRAN – The International Monetary Fund (IMF) has reiterated its recent positive report on Iran’s economy, rejecting some western media claims that the organization’s data about Iran’s economy was inaccurate

In its report released on August 3, the IMF hailed the successful implementation of the subsidy reform plan by the Iranian government and revised its former projection about the country’s gross domestic product (GDP) growth in its April report, raising Iran’s rate of economic growth from zero to 3.2 percent in last year.
The IMF said that the outlook for the Iranian economy is positive, “with growth expected to rebound in the medium-term”.
Following the report, a number of western media claimed that the new report of IMF was based on official sources in the Islamic Republic while the April-report – which put Iran’s economic growth rate at zero – was compiled based on information provided by independent sources.
The western media insisted that Iranian officials have presented incorrect data about the country’s economic performance to the IMF’s mission – which visited Tehran May 28–June 9, 2011- and misled the IMF’s report.
The Wall Street Journal published an article on August 4, entitled “IMF Stuns Analysts With Upbeat Iran Report”, claimed that: “The new IMF report is based mainly on official Iranian data. The new report surprised Iran analysts, who said these figures didn’t reflect the dire reality of Iran’s economy. Economists inside and outside of Iran, as well as European governments, have also questioned the accuracy of the IMF’s economic data for Iran. We think they’re overly optimistic. IMF’s new report is a big puzzle. It relies on figures from the Islamic Republic which are even disputed inside the country.”
IMF Deputy Director of the Middle East and Central Asia department Ratna Sahay, published a statement in the Wall Street Journal on Friday, stressing that the article “IMF Stuns Analysts With Upbeat Iran Report” was incorrect and her organization used its own numbers in compiling the report.
The official said that the lower projections reported in the IMF’s Regional Economic Outlook in April were the organization’s estimates based on limited information it had of the Iranian economy at the time rather than any independent assessments by a third party.
She noted that two key factors contributed to the IMF’s revising the growth numbers upward – statistics the IMF experts collected in a recent mission which indicated an exceptional agricultural performance in the past two years as well as the positive impact of the high oil prices on a highly diversified Iranian economy.
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