The World Bank has predicted in its latest report that Iran’s economic growth during President Ebrahim Raisi’s first administration will increase to 2.6 percent.
According to the report, the average economic growth of the Islamic Republic stood at 1.4 percent within eight years of former president Hassan Rouhani’s first and second administrations.
The World Bank pointed to negative growth rate in two years of the previous administration. Iran’s economic growth stood at -6.8 in both 2018 and 2019.
Referring to the reason behind improvement of Iran’s economic situation in last year (March 21, 2020 to March 20, 2021), the international group noted that the negative impact of the COVID-19 pandemic was restricted to service-providing sectors and the country could revitalize industrial activities and crude oil production to minimize the decline of economic growth.
Easing coronavirus-related restrictions in 2022 will help service-providing sectors experience better situation and gradual improvement in oil sector will end up in burgeoning economic growth in Iran, the report said.
Based on the World Bank’s prediction, Iran’s economic growth in first three years of the Raisi administration will increase to 2.6 percent on average.
Therefore, the average of Iran’s economic growth in the Raisi administration will witness relative improvement in comparison to the same figure in the Rouhani administration.
