Photo: Foreign Policy
Iran’s Central Bank has not provided public information in regards to Iran’s GDP or inflation in three years, but anecdotal evidence suggests the nation is being beset by inflation, joblessness, and shortages reports the Wall Street Journal.International sanctions are starting to really squeeze the nation, and the economy has become chaotic internally even if things seem far smoother form the outside:
“Every morning, we go to work wondering how we will manage the day,” says Gholam Hossein, a Tehran brick-factory owner. “The market is chaotic and unpredictable. One day we can’t move our goods from the port. Another day we can’t open a letter of credit.”
Iran says it has brought inflation from above 25% in 2008—a time of regionwide overheating due to soaring oil prices—to under 10% this year. The IMF, too, estimates inflation is now about 10%, but warns that the subsidy cuts could send the rate to 30%.
Some economists and analysts, including Mr. Vahidi, say inflation is already over 25%. The government rejects those numbers.
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