#1
#1 out of 4
world1d ago
Millions face poverty as Iran’s economy reels from war and sanctions
- Iran's economy is shrinking as war, sanctions and inflation grind the country, threatening millions with poverty this year.
- Inflation remains elevated, with the Central Bank reporting inflation above 50% and prices rising faster than wages.
- The government aims to release about $24 billion in frozen assets to stabilize the currency and ease imports.
- Economists warn that even with asset releases, deeper structural problems will limit long-term relief.
- Iranian households face rising costs in essentials, with transport, medicine and food prices climbing rapidly.
- Disruptions to the labor market and a contraction in industry compound poverty risks for workers.
- Disproportionate impact on people with disabilities as care costs rise and access to supplies tightens.
- Iran seeks access to frozen assets to stabilize the currency and reduce inflation expectations, according to officials.
- Analysts caution that even with a deal, lasting economic reform will be slow and complicated.
- The internet and digital control are central to the crisis, with experts examining moves toward a controlled Iranian internet.
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