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FinancialNews


  • 10-06-20

    Iranian economy to go back to normal in 2021

    (MENAFN)

    According to the information released on Monday, June 8th by WB in its latest report on the global economy dubbed "Global Economic Prospects", "Iran's GDP is expected to shrink again in 2020, by 5.3 percent, partly reflecting the effects of the large-scale COVID-19 outbreak on domestic consumption and the services sectors (e.g., tourism)."

    Highlighting the descending trend of inflation in West Asian countries, World Bank said that "Iran's inflation has been falling on a year-by-year basis, although it remains elevated at about 20 percent."

    The bank's data demonstrates that 2020 is going to be the ultimate year with a pessimistic economic growth rate for Iran since in 2021 Iran's economic growth rate is projected at 2.1 percent.

    As stated by the WB report, the worst economic condition this year is going to be in the Eurozone. Economic expansion in the region by the end of 2020 will decrease by 9.1 percent. The U.S. economy will also decrease by 6.1 percent.

    MENAFN1006202000450000ID1100299281

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