The World Bank published its latest report titled World Economic Outlook on Tuesday, projecting that global growth will slow for the third year in a row—from 2.6% in 2023 to 2.4% this year.
Iran’s economic growth of 4.2% in 2023 exceeded the expectations of World Bank experts who had predicted a mere 2.2% growth for the country.
Advanced economies only experienced an average of 1.5% growth, the World Bank said. The economic growth for the eurozone was 0.4% while the United States saw a 2.5% growth.
The average economic growth of developing countries was 4%, with China growing by 5.2% and India by 6.3% in 2023.
The report also forecasts Iran's economic growth to stand at 3.7% this year, an upward revision from the 2% growth predicted in June.
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