The World Bank has predicted a 2% growth for the Iranian economy in 2023.
In its latest update for the economic conditions of Middle East and North African countries, the World Bank said that the economy of this region is expected to grow by 3% this year.
The report believed that 15 countries out of a total 18 countries of this region will post slowest grows in 2023.
While the average economic growth of the 18 regional countries hit 5.8 in 2022, the World Bank report estimated their average economic growth to nearly halve this year.
The conditions are even worse for oil producing countries as their economic growth has been estimated to drop some 55% to 2.8% this year. This is while they had registered an average economic growth of 6.1 in 2022.