Projection of Iran Economy by the World Bank

The World Bank’s Global Economic Prospects (GEP) reported that:

“In the Islamic Republic of Iran, growth is forecast to recover by 2.1 percent in 2021 and 2.2 percent in 2022 with a rebound in industrial production outweighing continued suppressed demand for services due to a high number of COVID-19 cases”.

According to the World Bank, the Iranian economy also exceeded predictions in the previous Iranian calendar year (ended on March 20) as the country’s industrial and productive sectors grew significantly against all the expectations.

However, Based on the report, many emerging markets and developing economies will continue to struggle with the COVID-19 pandemic and its aftermath.