TEHRAN, Iran, Jan. 11
Trend:
The World Bank, providing an update on key economic developments and policies of Iran, announced the gradual economic recovery following the last decade of negligible economic growth, Trend reports citing WB official Website.
According to the latest report, Iran’s economy is gradually recovering after exiting a two-year recession in 2021.
Less stringent COVID-19 restrictions, adaptation to the new normal— reflected in recovery in consumption, and more favorable oil sector conditions have driven a four-quarter rebound after June 2020, albeit from a low base.
According to WB, Iran's government fell short of meeting its budget targets in the first four months of 2021 but managed to keep the deficit close by the end of the year.
“The budget targets including for oil revenues were not met, oil revenues nonetheless expanded from their record low levels (1.1 percent of GDP) in 2021. However, this met only 15 percent of the budget revenue for the period.”
The Iran Economic Monitor examines economic developments and policies in a longer-term and global context and assesses their implications for the outlook for the country. Its coverage ranges from the macro-economy to financial markets to indicators of human welfare and development. It is intended for a wide audience, including policymakers, business leaders, financial market participants, and the community of analysts and professionals engaged in Iran.