"To protest Iran's dire economic situation, shopkeepers in the capital, Tehran, have kept their stores shuttered since last weekend. Large street protests have spread across the country in recent days. Iran's economy is struggling with high inflation and sanctions related to the government's nuclear program. According to the International Monetary Fund, inflation in Iran reached 32.5% in 2024. The IMF estimates that consumer prices will have risen by 42.4% in 2025 and will not fall below the 40% mark in 2026."
"The value of Iran's national currency, the rial, had previously plummeted to a historic low on the black market. The economy suffers from chronic structural weaknesses. These can only mitigate the impact of declining oil export revenues, but cannot eliminate it in the long term. The difficult outlook for Iran comes as a consequence of the government's nuclear and missile programs, Hossein Marashi, secretary general of the reformist Executives of Construction Party, wrote to fellow members early December."
Shopkeepers in Tehran closed their stores in protest while large street protests spread nationwide. Iran is battling high inflation and sanctions tied to its nuclear program. The IMF reported inflation at 32.5% in 2024 and projected consumer prices to rise 42.4% in 2025, remaining above 40% in 2026. The rial plunged to historic lows on the black market. Chronic structural weaknesses limit but cannot offset declining oil export revenues. Economic growth averaged about 1% over two decades, reducing purchasing power and making staple food imports with foreign currency very difficult.
Read at www.dw.com
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