Tehran, July 07: The International Monetary Fund has predicted bright prospects for Iran's economy during 2003-2004, which it says, is mainly due to the "successful economic reforms package" adopted by the Islamic Republic. A report published in the IMF's website says Iran's economy had grown at a desirable pace during 2003-2003, on account of a steady rise in its gross domestic product, a fall in unemployment rate, reduction in foreign debts and growth in international reserves.


The report said a team of IMF experts. Led by Abdolali Jebeli, deputy director of the IMF mid east department, who had just completed research on Iran, also hailed the Islamic Republic's economy for its transparency and welcomed the liberalization of trade, establishment of private banks and other progressive steps taken with a view to liberalising the country's economy.
The report further said Iran's economy has over the past couple of years been showing highest growth rate in the middle fast and north Africa, with an economic growth rate of 7.3 percent, excluding oil.


Besides, it said, a 10.2 per cent growth in the country's agriculture and 11 per cent in industry and other sectors had helped the country push up its ranking in the list.

The IMF also expressed its readiness to provide Iran with necessary support in its reforms drive.
Bureau Report