In its latest report titled “Global Economic Prospects”, the World Bank warned that the anti-inflationary policies of the world’s central banks in 2023 will significantly reduce the economic growth of countries this year.
The international body has predicted that the countries’ average economic growth will decrease from 3.1 percent in 2022 to 2.1 percent in 2023 as a result of the countries’ contractionary monetary policies.
For this reason, the World Bank reduced its forecast indicators of the economic growth of many countries in 2023.
Inflation will still remain an issue in the global economy, but commodity prices are expected to improve as demand eases.
In 2023, the decline in global economic growth will be associated with a decline in economic activity in developed countries.
However, the World Bank, assessing Iran’s economic situation, expects Iran to have an economic growth of 2.2 percent in 2023, which is equal to the average economic growth of the Middle East and North Africa (MENA) countries.