IMF revised down this year's Iranian growth forecast to 9.5% in US sanctions

[Dubai Reuters]-The International Monetary Fund (IMF) revised its forecast for Iran's economic growth this year from minus 6% to minus 9.5% in the World Economic Outlook (WEO) announced on the 15th . The background is the strengthening of US sanctions.

Last week, the World Bank has forecast that the Iranian economy will shrink by 90% by the end of 2019/20 from two years ago.

Iran's crude oil revenue increased significantly following the 2015 nuclear agreement, but the largest ever since US President Trump withdrew from the agreement in 2018 and launched sanctions for almost all Iranian sectors. It has become a pain.

The IMF noted that Iran will continue to face “very serious macroeconomic pain” along with other emerging market economies.