IIF Projects 3.5% Drop In Iran’s GDP In 2012
Iran’s GDP in 2012 is expected to shrink by 3.5% from a positive growth of 1.2% in 2011, the Washington-based Institute of International Finance (IIF) has said in a report on the MENA region. The IIF noted that western sanctions imposed on Iran over the nuclear standoff have pushed the country into recession. Crude oil exports in 2012 have dropped sharply, the value of the Iranian rial has slumped on the free...
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