Economy
In November 2012, Iran’s parliament suspended subsidy reform and is now unlikely to allow “drastic increases” in the price of consumer staples over the next year, according to a new report by Jahangir Amuzegar. President Mahmoud Ahmadinejad launched a phased reform plan in 2010 that…
On November 16, a new report by the Federation of American Scientists estimated that a full-scale U.S. invasion of Iran could cost $1.7 trillion. The report on the potential impact of a conflict featured six different scenarios for the global economy. In one scenario, additional U.S.…
On November 8, the Islamic Republic announced a ban on over 70 types of foreign luxury goods. Iran Daily reported that the ban on imports could save the country $4 billion annually. Tehran’s foreign currency reserves are low due to international sanctions on its oil sales. Oil exports…
Gary Clyde Hufbauer The European Union imposed new sanctions on Iran’s financial, energy, trade, and transport sectors on October 15. What impact will these measures have on Iran’s economy? Oil and gas account for close to 90 percent of Iran’s exports. Anything that interrupts the…
Gary Clyde Hufbauer The European Union imposed new sanctions on Iran’s financial, energy, trade, and transport sectors on October 15. What impact will these measures have on Iran’s economy? Oil and gas account for close to 90 percent of Iran’s exports. Anything that…
After six years of international sanctions on Iran’s nuclear program, Western powers claim that their punitive measures are having a significant impact on Iran’s economy. According to U.S., European and Israeli officials, sanctions have compounded problems generated by Tehran’s…
Helia Ighani Iran’s currency crisis has sparked deep divisions inside the regime. Top officials have blamed others in the Tehran government for mismanagement and irresponsible fiscal policies. The regime has countered by citing international sanctions for a role in the…
The International Monetary Fund (IMF) forecasts economic growth and lower inflation for Iran in 2013, suggesting that sanctions have taken a limited toll on the economy. The IMF’s semi-annual World Economic Outlook estimates that Iran’s gross domestic product (GDP) will fall .9 percent…
Iran's currency has dropped by a stunning 40 percent in a mere week, generating protests in Tehran. But the currency crisis dates back more than a year. The following is a news analysis providing context on Iran's fluctuating rial by Siamak Namazi.
News of currency…
Helia Ighani The hottest topic in Tehran’s media—and society generally—is the Islamic Republic’s deeply troubled economy. Over the past 12 months, the national currency has lost half of its value. Despite Iran’s vast oil and gas reserves, youth unemployment has hit 28.6 percent.…