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  • 18-01-22

    Forecasts for Iran’s economy to grow by 2.4 percent

    (MENAFN) Based on the World Bank’s Global Economic Prospects (GEP) report published earlier in January, Iran’s economy is predicted to increase by 2.4 percent during this year as crude output as well as industrial activity recover in the nation.

    According to the report’s statement, “in the Islamic Republic of Iran, the pandemic’s impact on the services sector was limited and oil production and industrial activity rebounded, minimizing the slowdown in economic growth.”

    The bank has raised its prediction of Iran’s economic expansion by 0.2 percent in comparison to its last report released in June last year.

    The report also stated, “growth in the Islamic Republic of Iran in 2022 has been revised marginally higher with tapering COVID-19 mobility restrictions benefiting the services sector and a gradual recovery in the oil sector.”

    MENAFN18012022000045013568ID1103553791

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