The World Bank has revised up its estimate of Iran’s economic growth for last year to 4.7% from a previous estimate of 3.1% reported early this year.
World Bank tables included in Iranian media reports published on Sunday showed that Iran’s economic growth last year was way better than an expansion of 3.3% reported for 2020.
The figures showed that Iran’s gross domestic product (GDP) will grow by 2.9% this year and by 2.2% in 2023 although the forecast could be revised up again if Iran’s crude oil exports increase in the months to come.
Iran has been subject to an inclusive regime of American sanctions that ban major oil consumers from engaging in oil trade with the country. The sanctions have also affected all major aspects of the Iranian economy, including normal banking and trade ties with other countries.
By PRESS TV