Drawing a positive outlook for the Iranian economy in 2023, the International Monetary Fund (IMF) has predicted that 10 major indicators of the Iranian economy would experience growth and improvement in the new year compared to 2022.
Based on the IMF data, Iran’s Gross Domestic Product (GDP) based on the purchasing power index will grow by $91 billion or two percent in 2023 to reach $1.7 trillion.
Meanwhile, Iran’s GDP per capita is also expected to increase by $865 based on the purchasing power index to reach $19,528 in 2023 from $18,663 in 2022.
IMF sees Iran’s GDP excluding oil grow by two percent in 2023, and the growth of the country’s economy including oil will be 2.1 percent this year.
The inflation rate in Iran is predicted to be 40 percent in 2023, registering no change compared to 2022.
The International Monetary Fund expects the rate of the country’s liquidity growth to slow down in 2023. The liquidity growth that reached 47.5 percent of GDP in 2022 will decrease to 45.6 percent in 2023.
The budget deficit of the Iranian government in 2023 will reach six percent of GDP, which is 1.8 percent higher than the figure in 2022.
The Iranian government’s total revenues will not change in 2023 compared to the previous year. The Iranian government’s income in 2023 is estimated to be 8.3 percent of the GDP, registering no change compared to the previous year. However, the government’s non-oil incomes will increase from 7.4 percent of GDP in 2022 to 7.5 percent of GDP in 2023.
Based on the IMF data, the downward trend of the Iranian government’s gross debt will continue in 2023 to settle at 31.9 percent of the GDP this year.
The fund also predicts Iran’s current account balance to be $30.2 billion in 2023. Iran’s current account balance in 2022 is estimated at more than $32 billion.
Based on the mentioned data, Iran’s foreign currency reserves increase by more than $11.4 billion in 2023 and reach $42.2 billion. Iran’s available foreign currency reserves in 2022 are estimated at $30.8 billion. This international organization has announced that Iran’s foreign currency reserves are more than $120 billion, but it claims that Iran has access to only a small part of these reserves due to the U.S. sanctions.
According to the estimate of the International Monetary Fund, Iran’s foreign debt in 2022 will be equal to 0.5 percent of the GDP and it is expected that this figure will remain the same in 2023.