Worthy Christian News > World Headlines > Iran’s Economy to Shrink 9.5 Percent This Year Amid Tighter US Sanctions, Says IMF

Iran’s Economy to Shrink 9.5 Percent This Year Amid Tighter US Sanctions, Says IMF

Wednesday, October 16, 2019 | Tag Cloud Tags: Economy, Iran, News, sanctions, Worthy News | Learn about our FREE SYNDICATION Service | Subscribe to the Worthy Brief! | Printer Friendly

(Worthy News) – Iran’s economy is expected to shrink by 9.5 percent this year, the International Monetary Fund (IMF) said, down from a previous estimate of a six percent contraction, as the country feels the impact of tighter US sanctions.

The IMF forecasts, published on Tuesday in the fund’s World Economic Outlook report, are not far from estimates given last week by the World Bank, which said the Iranian economy by the end of the 2019/20 financial year would be 90 percent smaller than it was just two years ago. [ Source: Algemeiner (Read More…) ]

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