Increase in Iran’s Foreign Exchange Reserves

The International Monetary Fund (IMF) in its latest economic report announced that Iran’s foreign exchange reserve had increased significantly.

In its latest World Economic Outlook report, the IMF said the Iranian reserve of foreign exchange rose by 14.3 billion dollars in 2015, registering a record of 125.9 billion dollars.

The report at the same time noted that the reserve could slightly fall and settle at $125.6 billion this year.

Similarly, the international financial organization forecasted the country’s gross domestic product (GDP) to hover around $386 billion in 2016 from last year’s $387.7 billion, Press TV reported.

The report, which projected the world economy to gain 3.5% in 2016, forecasted a four-percent growth for the Iranian economy, compared to its last year announcement of zero percent.

The IMF also estimated Iran’s double-digit inflation rate of nearly 12% to lower and reach 8.9 percent throughout this year.

(Source: Tasnim, under Creative Commons licence)

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