Baku, Azerbaijan, Jan.14
By Dalga Khatinoglu - Trend:
World Bank released its annual global economic report, putting Iran's GDP growth in 2012 and 2013 at negative 6.6 percent and negative 1.9 percent while the figure for 2014 is estimated to be 1.5 percent and for 2015 is expected to reach 0.9 percent.
Iran's GDP growth for 2016 and 2016, according to the WB is forecasted to stand at 1 percent and 2.2 percent as well.
The Iranian government has not published the economic performances for 2014, but according to the latest report, published by the Central Bank of Iran, the country's GDP growth for 1H of current fiscal year (last spring and summer) was 4 percent.
The World Bank's report says that food and fuel subsidies in Iran cost of up to 25 percent of GDP.
Iran's GDP is estimated to reach about $370 billion, while Oil Minister Bijan Namdar Zanganeh said last June that Iranians uses $90 billion liquid fuels per annum and government pays $80 billion subsides for that.
Crude oil shares about 25 percent of Iran's GDP, while the break-even price for Iran is about $130.
