Code: 1240714 A

The World Bank revised its projection for Iran’s economic growth in 2022 up to 3.7 from previously -1.3 predicted in January.

The World Bank said in its latest Global Economic Prospect published earlier this month that the global economy was projected to slow from 5.7 in 2021 to 2.9 in 2022, largely because, among other things, Russia’s invasion of Ukraine would significantly disrupt activity and trade in the near term.

The international body had predicted in its January report that the global economy would grow by 4.1 percent.

In the meantime, the World Bank report expected Iran’s economy to grow by 3.7 percent this year, raising its projection in January report by 1.3 percentage point.

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