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World Bank forecasts 1.5% GDP growth rate for Iran in 2014

Source: Tehran Times

The World Bank forecasted in its Global Economic Prospects report that Iran's gross domestic product (GDP) will grow by 1.5 percent in 2014. The WB report has also predicted a 2 percent and a 2.3 percent GDP growth rates for Iran in 2015 and 2016, respectively.

According to the Statistical Center of Iran, the economic growth rate was at -2% in 2013
(cartoon by Payam Borumand, Shargh daily)

Iran's GDP growth rate shrank by 1.7 percent in 2013, according to the report.

In September 2013, the World Bank removed Iran from its list of deadbeat borrowers, saying the Islamic Republic had paid outstanding loan amounts.

The Bank said that its key lending unit, the International Bank for Reconstruction and Development, "has moved all loans to the Islamic Republic of Iran from non-performing status to performing status following the payment of all overdue amounts on these loans."

The Bank has not lent any new money to Iran since 2005. It said it complies with United Nations and other international sanctions against the country, AFP reported.

On April 14, Iranian Finance and Economic Affairs Minister Ali Tayyebnia said the World Bank should help Iran financially implement environmental protection, road safety, and natural disaster management projects.

He made the remarks in a meeting with the World Bank's Vice President of the Middle East and North Africa Inger Andersen on the sidelines of the IMF/WB Annual Spring Meeting in Washington.

... Payvand News - 06/12/14 ... --

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