Economy

iranintl – An increasing number of Iranian politicians, media outlets, and senior clerics are voicing criticism of the government’s handling of the country’s worsening economic crisis. With inflation expected to surpass 50%, the Iranian people are facing increasingly desperate conditions. Referring to the hardships that many families are grappling with, Ayatollah Abdollah Javadi-Amoli warned that these problems could eventually lead …

Iranwire – A new report by the Iranian Parliament’s Research Center has named Sistan and Baluchistan province as the most deprived region in the country “by a significant margin.” The report defines deprivation as “limited access to basic necessities like healthcare, education, roads, energy, clean water, and sanitation.” This lack of development fuels discontent. Since 2022, coinciding with nationwide protests, …

iranintl – Iran is grappling with soaring food prices amidst economic turmoil and the devaluation of the rial compounded by Iran-Israel tensions. According to reports from Iran’s state-run Khorasan newspaper, the cost of essential food items has skyrocketed since the beginning of the Iranian New Year in March 2024, coinciding with the month of Ramadan. Beans have seen a staggering …

iranintl – Iranian commentators and media anticipate a gloomy year ahead for the country’s economy, largely attributing the outlook to government inefficiency and the immense pressure of US sanctions. Meanwhile, analysts warn that the situation is exacerbated by the government’s apparent lack of a plan to tackle longstanding economic crisis. Yahya Ebrahimi, a lawmaker from Delfan has said in an interview …

iranintl – In the wake of heightened geopolitical tensions, the already battered Iranian currency, rial, has been thrust into a whirlwind of volatility. Immediately after the Islamic Republic’s recent attack on Israel commenced, the foreign exchange market witnessed an unprecedented surge, with the dollar breaching the 700,000 rials mark over the weekend. The lower rial means more inflationary pressures in Iran, where …

Iranwire – The Iranian Rial continued its downward spiral on Saturday amidst escalating tensions with Israel and concerns of a potential war.  The US dollar surpassed the 660,000-rial mark for the first time on the open market. With an annual inflation rate reaching about 50 percent, Iranians have been scrambling to convert their savings into hard currencies or gold.  The …

Iranwire – Food prices in Iran have skyrocketed over the past few weeks as the Rial continues to lose value. Reza Kangari, head of the Tehran Provincial Union of Food Banks, reported a significant rise in food prices over the past two weeks. He said some items have seen a 30 percent increase while others are experiencing shortages, leading to …

iranintl – Iran’s President Ebrahim Raisi asserts that his government maintains transparency regarding the previously undisclosed identities of the banking system’s major debtors. An examination of the data from the Central Bank of Iran unveils that his government is actually the largest debtor among them. “You remember that in an election meeting, they handed the candidates the names of three …

iranintl – A prominent newspaper in Tehran has criticized the government for its lack of an economic plan in the final year in office for President Ebrahim Raisi, whose first term has been marred by multiple crises. Etemad daily reported last week that the budget bill for the current year received only partial approval from the parliament, a situation unprecedented in …

rferl.org – The U.S. Treasury Department imposed new Iran-related counterterrorism sanctions against Oceanlink Maritime DMCC and its vessels on April 4, citing its role in shipping commodities on behalf of the Iranian military. The department said in a statement that Oceanlink Maritime DMCC facilitated shipments of the unspecified Iranian commodities on behalf of Iran’s Armed Forces General Staff (AFGS) and …