Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
Israeli media outlet: Security incident reported in the Gaza Strip
Iranian Foreign Ministry spokesperson: No new date or venue has been set for the meeting between Araghchi and Witkoff, and no negotiations will take place until the outcome is guaranteed
Palestinian platforms: Settlers storm Al-Aqsa Mosque complex under the protection of the occupation police
Palestinian platforms: The IOF detonated a booby-trapped robot east of the al-Zaytoun neighborhood, south of Gaza City
Syrian Defense: We call on all parties in Sweida to cooperate with security forces and exercise restraint
Al Mayadeen's correspondent: The Lebanese Army is continuing its investigations and will later announce any information that does not affect the confidentiality of the investigation
Al Mayadeen's correspondent: It has not yet been determined whether the detainees belong to ISIS or another organization
Al Mayadeen's correspondent: Around 10 people of different nationalities, including Lebanese nationals, were detained
Al Mayadeen's correspondent: The Lebanese army arrested a number of people in the Matn area of Mount Lebanon with possession it has not disclosed
Gaza Civil Defense spokesman: We have strong indications that there are martyrs, injuries, and trapped people in the Salah al-Din area

World Bank expects economic growth in Iran despite sanctions, embargo

  • By Al Mayadeen English
  • Source: Al Mayadeen English + Agencies
  • 9 Oct 2022 21:00
4 Min Read

The latest World Bank economic report on the MENA region expects the Islamic Republic of Iran to witness 2.9% of economic growth in 2022.

  • x
  • World Bank expects GDP growth in sanctioned and embargoed Iran.
    The World Bank Group logo seen on the building of the Washington-based global development lender (Reuters)

The World Bank expected in an economic report covering the MENA region that the Iranian economy will grow in 2022 by 2.9% while the "average growth for developing oil exporters is expected to fall back to 2.7 percent,” according to the report.

Read more: Iran's exports to African countries climb by 107% over year

The report titled “A New State of Mind: Greater Transparency and Accountability in the Middle East and North Africa” stated that it is expected that the account balance of Iran will reach 3.8% of the GDP in 2022, an improvement from the previous year of 3.5%. In addition, the Fiscal Balance of the Islamic Republic is expected to witness an improvement from 5.3% in 2021 to reach 4.5%.

Read more: Iran-Oman trade hits record high despite US sanctions

The report added that due to the significant increase in oil prices, most MENA countries (considered oil/gas producers and exporters) are expected to reach 5.5% economic growth in 2022, were West Asia and North Africa back in 2021 reached a 3.6% economic growth.

The highest economic growth to be experienced in the MENA region in 2022 will be in Kuwait, according to the World Bank, which predicts that the country will reach a full 8.5% growth, while Morocco will experience the lowest growth of 1.2%.

Read more: Iran’s experience in facing sanctions available to Russia and may inspire it – Experts

Related News

World Bank projects modest economic growth for Syria in 2025

World Bank passes $250M project for Lebanon's post-war reconstruction

During a press conference back in August on the occasion of the one-year anniversary of his presidency, Iranian President Ebrahim Raisi announced that, despite the embargo and sanctions imposed, the Islamic Republic of Iran was able to attract $5.16 billion of domestic and foreign capital, while succeeding in a span of 6 months to reduce inflation from 60% to 40%, noting that Iranians "no longer suffer from problems related to the stock of basic goods and commodities."

Read more: Russia-Iran Commission on Economic Cooperation scheduled in November

Earlier this year in January, Iran's leader Sayyed Ali Khamenei addressing a group of Iranian manufacturers and entrepreneurs in Tehran said that the "enemies waged a war against Iran's economy in order to bring it to its collapse."

The leader added that “the collapse of the economy was, of course, a prelude in order to set the people against the Islamic Republic by destroying the Iranian economy and to carry out their malicious political intentions in this way," adding that "the workers were the sincere and earnest warriors of this battle. You and all economic actors share in this honor of preserving the country's economy."

Read more: Arrogant West in decline in region, entire world: Khamenei

In a more recent speech delivered less than a week ago, Sayyed Ali Khamenei stated, while addressing the foreign-backed riots in Iran, that Iran has advanced despite sanctions and Western conspiracies, which were the reason why foreign governments attempt to destabilize the country as they "feel that the country is progressing toward full-scale power and they can’t tolerate this."

2021: Iran economy grows by 4.1% in first 3 quarters: Central Bank

During 2021, Iran's total GDP grew by 4.1% during the first 9 months of the Iranian calendar year of 1400, which extends from March 21 to December 21 of 2021.

Iran's central bank released statistics showing that the country's economy grew by 3.4%, not taking into account the Islamic Republic's oil exports, as national economic growth excluding oil registered a growth of 5.8% during the same period.

The Central Bank of Iran's figures reflected growth in various areas and sectors, which included the services sector (8.1%), the industries and mines sectors (3.8%), and the oil sector (5.4%) compared to the same period in 2020.

  • World Bank
  • economy
  • Iran

Most Read

Hezbollah SG reveals war details on Al Mayadeen for the first time

Hezbollah SG reveals war details on Al Mayadeen for the first time

  • Politics
  • 8 Jul 2025
Major ambush in Gaza kills 6 Israeli troops, injures dozens

Major ambush in Gaza kills 5 Israeli troops, injures 14

  • Politics
  • 8 Jul 2025
Israeli soldiers are seen in Beit Hanoun ahead of an operation by the al-Qassam Brigades, undated (Al-Qassam Brigades Military Media)

'Israel' on blast as media exposes report discrepancies in Gaza ambush

  • Palestine
  • 8 Jul 2025
Yemen Navy sinks ETERNITY C ship, shares footage of operation

Yemen Navy sinks ETERNITY C ship, shares footage of operation

  • Politics
  • 9 Jul 2025

Coverage

All
The Ummah's Martyrs

Read Next

All
The Freedom Flotilla ship Handala as it departs for Gaza, where it aims to break the maritime blockade at a port in Syracuse, Sicily in southern Italy on July 13, 2025. (AFP)
Palestine

Freedom Flotilla's Handala departs Sicily in bid to break Gaza siege

The container ship CMA CGM Laperouse, left, docks at the Georgia Ports Authority's Port of Savannah, Sept. 29, 2021, in Savannah, Ga (AP)
Politics

US shipbuilding woes deepen as tariffs, outdated policies backfire

Gaza war raises ethical questions for ex-Obama, Biden officials
Politics

Mercenary firm tied to Gaza war crimes hires Obama-Biden PR operatives

'Israel' targets children in Gaza collecting water
Palestine

'Israel' strikes Gaza kids fetching water, blames it on 'malfunction'

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS