Friday, June 21, 2024

Iran’s economy grew by 4.7% in fourth quarter of 2022: World Bank

Figures released by the World Bank show that Iran's economy grew by 4.7 percent in the fourth quarter of 2022, standing at 15th place in the globe in terms of economic growth.

Reviewing the economic growth of 72 countries in the fall of 2022, the World Bank’s report titled Global Economic Prospects, showed that Iran experienced significant growth of 5% in the first quarter of 2022.

The figure went down by 2.5% in the second quarter of the last year, but rose again in the third quarter and reached 3.4%, said the source.

According to the data, Iran’s economic growth reached 4.7% in the fourth quarter of 2022, while the average economic growth of developed countries was only 1.2% in the said period.

The World Bank has predicted a 2.2% growth for Iran’s economy in 2023, a figure which is higher than the average growth forecast for the global economy despite the fact that the country is still under sanctions imposed by the United States.

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