Iran's Gross Domestic Product (GDP) has increased in recent years due to increased oil exports, but it is expected to fall this year and in the coming years.
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Iran's Gross Domestic Product (GDP) has increased in recent years due to increased oil exports, but it is expected to fall this year and in the coming years.
The World Bank's most recent report states this.
"Iran's GDP increased by 5% last year, but it will decrease by 3.2% this year, 2.7% next year, and 2.4% the following year," according to the report.
The International Monetary Fund had previously issued a similar assessment of Iran's declining GDP growth rate.
The World Bank attributed Iran's 5% economic growth in 2023 to the country's exit from the OPEC oil production cut agreement, which resulted in an increase in crude oil exports and production.
According to reports from the Central Bank of Iran and the Statistics Center, Iran's relatively high economic growth last year was driven by a 21% increase in the oil sector and a 17% rise in government spending.
GunazTV
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