Iran’s gross domestic product (GDP) excluding oil for the second three months of current Iranian year (June 22-September 22, 2021) witnessed a growth of 3.3 percent on the base-year 2011-2012, according to a report by the Statistical Center of Iran (SCI) on Saturday.
The Institute of International Finance (IIF) estimated that Iran’s economy will continue to grow by a modest rate of 3.5% this year if the country and world powers succeed in talks to revive a 2015 nuclear deal.
The United States will see its second-largest budget deficit since World War II this year, while the federal debt will continue to climb beyond GDP, according to a Congressional Budget Office (CBO) estimate released Thursday.
Japan’s industrial production likely declined again in December and retail sales are also expected to have slipped, a Reuters poll found, reinforcing worries a recent sharp increase in COVID-19 cases could derail a fragile economic recovery.
Britain suffered a record collapse in economic output in the second quarter of 2020 when COVID-19 lockdown measures were in force and people had few opportunities to spend, though the decline was slightly smaller than first estimated.
World economic output will return to its pre-pandemic level by mid-2021 after a stronger-than-expected economic bounce in recent months, Deutsche Bank said on Monday, but bloated debt levels and a shift in policy could heighten the risk of a financial crisis.
Finance Minister Olaf Scholz said on Monday he expected public debt to reach around 80 percent of Germany’s economic output by the end of the coronavirus crisis, the level it reached at the end of the global financial crisis.