Publication:
Iran Economic Monitor, Fall 2017: Sustaining Growth - The Challenge of Job Creation

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dc.contributor.authorWorld Bank Group
dc.date.accessioned2018-03-08T16:41:02Z
dc.date.available2018-03-08T16:41:02Z
dc.date.issued2017-11-01
dc.description.abstractThe Iran Economic Monitor provides an update on key economic developments and policies over the past six months. It examines these economic developments and policies in a longer-term and global context, and assesses their implications for the outlook for the country. Its coverage has ranged from the macro-economy to financial markets to indicators of human welfare and development. This edition covers the economic growth of Iran for the year 2016. Growth performance in 2016 exceeded expectations based on the bounce back in oil production and exports. The economy registered a record growth rate of 13.4 percent according to the new GDP data published by the Central Bank of Iran. While Iran’s economy is relatively diversified for a resource-rich country, oil proceeds still play a crucial role in public finances and external accounts. Iran’s ability to increase production in 2016, despite the cuts agreed to by the rest of the OPEC members helped bring production near its pre-sanctions levels. The surge in exports led to an improvement in the current account surplus, to 3.9 percent of GDP in 2016, as growth in imports remained stagnant. Increased oil production and exports brought an increase in government revenues, however, the improvement was not enough to offset the widening expenditures; the fiscal deficit grew from 1.7 percent in 2015 to an estimated 2.2 percent in 2016. Creating fiscal space for growth will be important especially in view of the expected burden from securitization of government arrears and growing pension system liabilities. Iran managed to achieve single digit inflation in 2016, but inflationary pressures resurfaced towards the end of the year and in early 2017, as liquidity rose and the Iranian Rial continued to depreciate. Job creation remained limited. In the medium-term, the growth rates are expected to revert to an average of 4 percent, reflecting modest reintegration with the global economy in banking, trade and investment. There are significant downside risks, both domestic and external, to this moderate medium-term outlook.en
dc.identifierhttp://documents.worldbank.org/curated/en/347831520515722711/Sustaining-growth-the-challenge-of-job-creation
dc.identifier.doi10.1596/29440
dc.identifier.urihttps://hdl.handle.net/10986/29440
dc.languageEnglish
dc.publisherWorld Bank, Washington, DC
dc.relation.ispartofseriesIran Economic Monitor
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo
dc.subjectECONOMIC GROWTH
dc.subjectJOBS
dc.subjectLABOR MARKET
dc.subjectJOB CREATION
dc.subjectPUBLIC FINANCE
dc.subjectMONETARY POLICY
dc.subjectFISCAL TRENDS
dc.subjectTRADE
dc.subjectECONOMIC OUTLOOK
dc.subjectRISKS
dc.subjectEMPLOYMENT
dc.subjectLABOR FORCE PARTICIPATION
dc.subjectUNEMPLOYMENT
dc.subjectDEBT
dc.subjectPENSIONS
dc.titleIran Economic Monitor, Fall 2017en
dc.title.subtitleSustaining Growth - The Challenge of Job Creationen
dc.typeReporten
dc.typeRapportfr
dc.typeInformees
dspace.entity.typePublication
okr.crossref.titleIran Economic Monitor, Fall 2017
okr.date.disclosure2018-03-08
okr.doctypeEconomic & Sector Work::Economic Updates and Modeling
okr.doctypeEconomic & Sector Work
okr.docurlhttp://documents.worldbank.org/curated/en/347831520515722711/Sustaining-growth-the-challenge-of-job-creation
okr.guid347831520515722711
okr.identifier.doi10.1596/29440
okr.identifier.doihttps://doi.org/10.1596/29440
okr.identifier.externaldocumentum090224b085758320_1_0
okr.identifier.internaldocumentum29702493
okr.identifier.report124020
okr.importedtrueen
okr.language.supporteden
okr.pdfurlhttp://documents.worldbank.org/curated/en/347831520515722711/pdf/124020-WP-PUBLIC-P162048-Iran-IEM-Fall-2017-7Mar18-MM.pdfen
okr.region.administrativeMiddle East and North Africa
okr.region.countryIran, Islamic Republic of
okr.topicInternational Economics and Trade::Export Competitiveness
okr.topicMacroeconomics and Economic Growth::Economic Forecasting
okr.topicMacroeconomics and Economic Growth::Economic Growth
okr.topicMacroeconomics and Economic Growth::Economic Policy, Institutions and Governance
okr.topicMacroeconomics and Economic Growth::Fiscal & Monetary Policy
okr.topicPoverty Reduction::Employment and Shared Growth
okr.topicSocial Protections and Labor::Labor Markets
okr.topicSocial Protections and Labor::Social Protections & Assistance
okr.unitMiddle East and North Africa (GMTMN)
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