Iran economy news now
Here are some recent news updates on the Iranian economy:
Currency Crisis
- The Iranian rial has continued to plummet against the US dollar, reaching a record low of 220,000 rials per dollar on the black market. (Source: Bloomberg)
- The government has imposed strict controls on currency transactions to try to stabilize the currency, but the measures have had limited success. (Source: Reuters)
Sanctions
- The US has imposed new sanctions on Iran's oil industry, targeting several major oil companies and shipping firms. (Source: CNN)
- The European Union has also imposed sanctions on Iran's oil industry, in response to the country's nuclear program. (Source: BBC)
Economic Growth
- Iran's economy has been growing at a slow pace, with GDP growth of around 2% in 2020. (Source: World Bank)
- The government has implemented several economic reforms aimed at stimulating growth, including a plan to increase foreign investment and reduce subsidies on basic goods. (Source: Financial Times)
Inflation
- Inflation in Iran has been high, with prices rising by around 40% in 2020. (Source: World Bank)
- The government has implemented measures to try to control inflation, including raising interest rates and reducing government spending. (Source: Reuters)
Oil Exports
- Iran's oil exports have been declining due to US sanctions, with exports falling to around 1 million barrels per day in 2020. (Source: Bloomberg)
- The government has been trying to find new customers for its oil, including in Asia and Europe. (Source: Financial Times)
Foreign Investment
- Foreign investment in Iran has been declining due to US sanctions and political tensions. (Source: Reuters)
- The government has been trying to attract more foreign investment, including through a plan to offer tax breaks and other incentives to foreign companies. (Source: Financial Times)
Unemployment
- Unemployment in Iran has been high, with around 12% of the workforce unemployed in 2020. (Source: World Bank)
- The government has been implementing programs to try to reduce unemployment, including training programs and job creation initiatives. (Source: Reuters)
These are just a few of the recent news updates on the Iranian economy. If you're looking for more information, I'd be happy to try to help you find it!