Iran’s economy expanded by 4.7% in the fourth quarter of 2022 to become 15th fast-growing economy in the world over the quarter, according to figures by the World Bank.
Reviewing the economic growth of 72 countries over 2022, the World Bank’s report titled Global Economic Prospects showed that Iran’s economy had experienced a significant growth rate of 5% in the first quarter of last year, according to figures cited in a Saturday report by the IRNA.
The growth rate went down by 2.5% in the second quarter but rose again in the third quarter and reached 3.4%, showed the figures.
Iran’s economic growth reached 4.7% in the fourth quarter of 2022 while the average economic growth of developed countries was only 1.2% over the period.
The World Bank has predicted a 2.2% growth for Iran’s economy in 2023, a figure which is higher than the average growth forecast for the global economy despite the fact that the country is still under sanctions imposed by the United States.
