IMF Forecasts Iran's Economy to Shrink by 3.6 Percent in 2019 Due to US Sanctions
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Iran's economy will sink deep in the red due to renewed US sanctions, the International Monetary Fund predicted on Tuesday, but forecast increased Saudi growth on the back of higher oil production.

In its World Economic Outlook, the IMF said the oil-dependent economy of the Islamic republic is expected to shrink by 1.5 percent this year and by 3.6 percent in 2019.

The IMF said the Iranian economy was now expected to contract over the next two years "on account of reduced oil production, before returning to modest positive growth in 2020–23". (Shutterstock)
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