Legendary Persian hand-woven carpets are on the verge of disappearing from the world market after years of decline, according to Tehran's economic sources.
Iran's central bank has been pumping petrodollars into the local exchange market to artificially keep the currency high. This in effect has led to a plunder of resources.
Iran's non-oil exports, which have suffered from weaknesses in its economic system as well as from various sanctions over the years, is facing new problems following the coronavirus outbreak.
While Iran's stock market has risen tremendously most of this has been government manipulation and investors face the danger of losing a lot.
The victors of the 1979 Islamic Revolution of Iran believed in an economic miracle and assumed they would be reaching their Utopia in no time based on Islamic fundamentalism and their motto of “neither East, nor West”
New statistics released by the World Bank reveal that Iran has had a painful economic decline during the past four decades of the Islamic Republic's clerical rule.
Iran’s Supreme Leader has recently authorized the withdrawal of four billion US dollars from the country’s foreign currency reserves, officially named the National Development Fund.
The exchange rate of the U.S. dollar against Iran’s tuman has had another hike, rising from 3,700 tumans to the dollar in March 2017 to 4,700 tumans to the dollar in January this year.
The U.S. House of Representatives overwhelmingly passed a bill on July 25 imposing new sanctions against Iran, Russia, and North Korea. If approved by Congress and signed into law by President Donald Trump, the bill will have serious repercussions for Iran.
In the Ipsos Top Cities Index, 2017, New York, in total, won first place for the second time with 23 percent of votes while Tehran along with Nairobi remained at the bottom of the table with zero percent.
The low level of foreign direct investment in Iran indicates that, despite the 2015 nuclear deal, the dark clouds of foreign mistrust still loom over Tehran’s economy, writes Radio Farda analyst Fereidoun Khavand.
A new round of restrictions on Iran’s economy is in the making. The recent blocking of Iranian clients’ bank accounts in the Persian Gulf area and Southwest Asia is one of the biggest manifestations of the new restrictions.
