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2020-01-17 11:25:00

IRAN'S RECESSION

IRAN'S RECESSION

REUTERS - Hit by sanctions curbing oil sales, Iran's economy is set to fall deeper into recession this fiscal year and foreign reserves could drop to $73 billion by March, a loss of almost $40 billion in two years, the Institute of International Finance said.

The economy shrank by 4.6% in the 2018-2019 fiscal year and the contraction is expected to deepen to 7.2% in the current fiscal year, the IIF, a finance industry body, said this week.

The United States last week sanctioned 17 Iranian metal producers and mining companies in response to Iran's attack…

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IRAN'S RECESSION
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Tags: IRAN, ECONOMY, SANCTIONS
Chronicle:
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