Iran Recession to Deepen, Reserves to Fall to $73 Billion by March: IIF
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 percent in the 2018-2019 fiscal year and the contraction is expected to deepen to 7.2 percent in the current fiscal year, the IIF, a finance industry body, said this week.
https://www.algemeiner.com/2020/01/15/iran-recession-to-deepen-reserves-to-fall-to-73-billion-by-march-iif/