World Bank Predicts a Worse Recession for Iran – Jubin@iranfocus.com (Jubin Katiraie)

By Jubin Katiraie

The World Bank is now predicting that Iran will experience a worse recession in 2019 than was previously thought, as US sanctions tighten around the oil exports that are the main revenue source for the Middle Eastern country.

In the Washington-based institution’s latest Global Economic Prospects report, published on Wednesday, it revealed that it expects Iran’s Gross Domestic Product to fall by 4.5% this year, compared with its previous estimate of a minus 3.6% GDP growth.