Economy to Grow 3.7% in 2022

The World Bank has once again revised up its forecast about Iran’s economic growth in 2022.
In a new report titled “Reality Check: Forecasting Growth in the Middle East and North Africa in Times of Uncertainty”, the bank expects the economy to grow by 3.7% this year.
The Middle East and North Africa (MENA) economic update 2022 report’s forecast is 1.3 percentage points higher than that in the previous report published by the World Bank in January.
The January report expected Iran’s economy to grow 2.4% in 2022, 0.2% more than the bank’s June 2021 projection.
“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,” read the previous report.
“In the Islamic Republic of Iran, the pandemic’s impact on the services sector was limited and oil production and industrial activity…

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