Iran’s GDP to Grow by 2.2%

EghtesadOnline: Growth is expected to slow in Iran to 2.2% in FY 2023-24, from 2.9% in the previous fiscal year, as oil exports and government consumption growth slows.

News ID: ۷۵۲۵۸۸

08 June 2023

The World Bank expects Iran’s economy to grow by 2.2% in 2023.

The newly-released June edition of Global Economic Prospects report has put last year’s growth rate at 2.9%.

“Growth is expected to slow in the Islamic Republic of Iran to 2.2% in FY 2023-24, from 2.9% the previous fiscal year, as oil exports and government consumption growth slows,” the report reads.

It goes on to forecast real GDP growth in 2024 and 2025 at 2.1% and 1.9% respectively.

The data show projection for 2024 has been revised up by 0.1% while it remains the same in 2023 compared to the January edition of the report.