“..
In oil-exporting Iran, the IMF sees zero growth this year as the
economy stalls due to the recent decision to phase out subsidies on
energy and other products. The IMF described the subsidy phase-out as “a
much needed reform that will yield benefits in the medium term.”
As the subsidies are phased out, Iran’s inflation rate is projected to
jump to 22.5% in 2011, from 12.5% in 2010. Indeed, rising commodity
prices will boost inflation across the whole Middle East and North
Africa region, the IMF said, projecting consumer price inflation of 10%
for the region as a whole in 2011, compared with 6.9% in 2010…
