World Bank: Iran’s economic growth will reach 5% this year
reportedMehr Correspondent The World Bank increased the global economic growth forecast for this year to 2.6%, which is 0.2% higher than its previous forecast.
This bank announced in its latest global economic outlook report that this figure is expected to remain constant for the first time in three years despite the intensification of geopolitical tensions and high interest rates compared to last year. . According to the report, the upward revision comes with continued strong growth in the United States.
The World Bank has forecast gross domestic product (GDP) growth to average 2.7 percent in 2025-2026, down from an average of 3.1 percent in the previous decade. It is an epidemic.
Indermit Gill, the chief economist of the World Bank Group, said that four years after the upheavals caused by the pandemic, conflicts, inflation and monetary contraction, it seems that the growth of the global economy has remained stable.
GDP is expected to increase by an average of four percent in developing economies in 2024-2025 and by 1.5 percent in advanced economies this year, and in It will reach 1.7% next year.
Gile stressed the need for developing economies to find ways to encourage private investment, reduce public debt and improve education, health and basic infrastructure.
The report highlighted that one in four developing economies is expected to remain poorer than 2019.
Economic growth forecast of the world’s first economy
The World Bank said in its latest World Economic Growth Outlook report that it expects gross domestic product (GDP) in the United States to grow by 2.5 percent in 2024, significantly faster than forecast. Announced in January, which was 1.6%, it has increased, and it will also register a growth of 1.8% in the next year, and these figures increased by 0.9 and 0.1 points, respectively.
The World Bank raised its growth forecast for China this year by 0.3 percent to 4.8 percent, due to stronger-than-expected economic activity in early 2024. It has been especially in the export sector. The world’s second largest economy is expected to grow by 4.1% in 2025, a decrease of 0.32% compared to the January report.
GDP growth in the Eurozone is expected to reach 0.7% in 2024, which is the same rate announced in the previous report, and 1.4% in 2025. slow.
The economic growth forecast of the Islamic Republic of Iran in 2024-2025 was announced at the rate of 5%, which is against the figure of 3.8% in 2022. The World Bank announced that among oil exporters, it is estimated that the growth of the Islamic Republic of Iran will increase to five percent in the fiscal year 2023-2024. Since this country has been excluded from the OPEC+ agreement, oil production and exports have increased, and growth in the non-oil sector, including services, has also been strong.
The World Bank announced Saudi Arabia’s economic growth forecast of 2.5% in 2024, which is compared to the negative figure of 0.9% in 2022. Also, the economic growth forecast for Iraq is negative 0.3%, Lebanon is 0.5%, Oman is 1.5%, Qatar is 2.1% and Bahrain is 3.5%. Turkey’s economic growth forecast decreased by 0.1 points to three percent for 2024 and decreased by 0.3 points to 3.6 percent for next year.
global inflation
The World Bank has predicted the average global inflation to be 3.5% this year and 2.9% in 2025.
