IRAN TO 5.7 MB
"In five years' time (by the year 2018), Iran crude oil and gas production capacities will rise to 5.7 Mln bpd and 1,000 mcm/d."
Stating the above at energy commission of the parliament, Iran oil minister Bijan Zanganeh said: "In respect to expenses and consumption, gasoline imports will benefit the country and the import should be in line with the needs of the country," reported the news agency of Iran oil ministry.
According to Zanganeh, favorable measures have been taken at petrochemicals, refineries and gasoline production plants of Iran to meet global standards.
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IMF - Output grew by 3.8 percent in 2017, underpinned by a resilient non-hydrocarbon sector, with robust implementation of GCC-funded projects as well as strong activity in the financial, hospitality, and education sectors. The banking system remains stable with large capital buffers. Growth is projected to decelerate over the medium term.
IMF - Higher oil prices and short-term portfolio inflows have provided relief from external and fiscal pressures but the recovery remains challenging. Inflation declined to its lowest level in more than two years. Real GDP expanded by 2 percent in the first quarter of 2018 compared to the first quarter of last year. However, activity in the non-oil non-agricultural sector remains weak as lower purchasing power weighs on consumer demand and as credit risk continues to limit bank lending.