Tehran, IRNA - Iran's economic growth in 2023 reached 4.2%, higher than the 2.5% growth reported for the United States, according to the latest data from the World Bank.

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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