Young Journalists Club | Latest news of Iran and world

News ID: 6225
Iran » Iran
Publish Date: 18:24 - 04 February 2015
TEHRAN, YJC. In its latest report on the economic situation in the Middle East, North Africa, and Central Asia the International Monetary Fund (IMF) announced that Iran has become the second biggest economy across the said regions.

The international organization pointed to Iran’s $406 billion gross domestic product (GDP) in 2014, and reported that the country’s economy is now the second among 30 countries in the areas mentioned above.

The first on the list is Saudi Arabia, with a GDP of $752 billion and the third is the UAE with a total GDP of $401 billion.

The total GDP of the entire regions in the report amounted to $3,459 billion in 2014, $2,579 billion of which belongs to the oil producing countries.

For the fact that oil prices have fallen by half over the past months, the IMP has predicted that the GDP of the oil producing countries will decrease by $303bln and stand at $2276bln.

According to analysts, the drops in oil prices are due to a glut of supplies by certain oil producing countries such as Saudi Arabia.

Iranian officials have repeatedly said that the decline of crude oil price is not just an economic issue, but the result of a political plot hatched by certain states.

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