Iran’s Parliament Research Center is predicting negative growth for Iran in the current fiscal year that ends March 20 due to its falling exports, Radio Farda reported on Friday.
The economic contraction could be as significant as 5.5 percent negative growth, the Research Center figures, with the best-case scenario ending with a 2.6 percent negative growth.
The rosier scenario of the two assumes that Iran will see a 800,000 barrel per day loss in Iran’s crude oil exports. The bleaker view assumes Iran’s oil exports will dip by 1.6 million barrels per day.
Beyond March 2019, when this fiscal year ends, the research center is predicting a 4.5 to 5.5 percent contraction. [Read more at Oilprice.com]