Nowruz: Bleak Economic Future
What was the state of Iran’s economy in March 2024 as the country celebrated the Persian New Year? What were the biggest economic challenges?
Sanctions have cast a long shadow on Iran’s economy, but they have not led to an economic collapse. Iran has managed to grow its overall economy by an average of 1.7 percent since the initial 2012 sanctions shock. But for ordinary Iranians, the government’s ability to “resist” sanctions for more than a decade represents a Pyrrhic victory.