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New World Bank report: Iran’s economy will get worse
A new report by the World Bank on the world’s economic growth predicts a worse situation and ranking for Iran’s economy and GDP.
According to the report, after Nicaragua, Iran has the worst GDP growth in the world and lands at the bottom of the charts.
The World Bank predicts that Iran’s economic growth will be at minus 5.4 percent. This estimation is even worse than what this credible international institution had predicted a few months ago.
The report concludes that the negative impact of U.S economic sanctions on Iran’s economy and specifically its oil export is the main reason for this decline.
Iran’s inflation rate of 52 percent and the heavy drop in the value of its currency have been counted among the biggest challenges that Iran’s economic growth is facing.
The International Monetary Fund’s prediction is even worse than the World bank’s; IMF has predicted a minus 6 percent economic growth for Iran.
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