Iran's economy grew by 5.4% in 2023: IMF

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

News ID: ۸۲۲۲۱۶

30 January 2024

In its latest quarterly report, known as World Economic Outlook, 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 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% in 2023, indicating that Iran's economy increased more than the average of its equivalents.

The Middle East economies grew by an average of 2%. In that region, Saudi Arabia recorded -1.1% growth

The economic growth of some other countries in 2023 were as following: USA 2.5%, Germany negative 0.3%, France 0.8%, UK 0.5%, China 5.2%, India 6.7%, Russia 3%, Brazil 3.1%, Turkey 4% and Pakistan - 0.2%. / Mehr