TEHRAN – The World Bank has forecasted Iran’s gross domestic product will grow by 1 percent in 2015.

In its June 2015 Global Economic Prospects report with the theme of The Global Economy in Transition, the World Bank said Iran’s economy expanded by 3.7 percent in 2014.

It also predicted a 2 percent GDP growth for the country in 2016.

Meanwhile, the International Monetary Fund (IMF) forecast a 0.6 percent gross domestic product (GDP) growth for Iran in 2015 in its April World Economic Outlook. 
The IMF report put Iran’s GDP growth at 3 percent in 2014, while predicting a 1.3 percent GDP growth for the country in 2016. 

The report also said Iran maintained its 2013 rank as the World’s 18th largest economy in 2014 based on the purchasing power parity (PPP). 

In April 2014, the IMF said Iran had achieved considerable progress in raising per capita income and living standards in previous decades.