WB forecasts Iran’s economy to improve in 2019
Tehran (KNA) - In its latest report, World Bank (WB) predicted that Iran’s economy will significantly improve in 2019.
The bank pointed to the impact of Iran sanctions on oil market after the termination of waivers announced by US for oil buyers of this country and added, “some major economies, that registered a considerable economic growth decline in 2018 such as Iran, will witness a significant economic growth in 2019.”
In a fresh report released in January entitled ‘Prospects for the Global Economy”, the World Bank reported that continued oil output decline in Venezuela and also oil market’s concerns about the impact of US sanctions on Iran led to a rise in Brent crude oil prices in a way that each barrel of the crude oil hit $86 in early Oct.
However, crude oil prices declined in November in the wake of announcing temporary exemptions for eight countries including China and India in the field of buying oil from the Islamic Republic of Iran, the bank added.
The World Bank also predicted that economic growth in Emerging Markets and Developing Economies (EMDEs) will increase by 4.5 percent in 2020.
Some of major economies such as Iran, Argentina and Angola that witnessed a considerable economic growth decline in 2018 will see a significant improvement in their economies, the World Bank ended.