Iran’s economy shrank during US war, official data shows
The country's GDP shrank by 10.1% year-on-year from late March to late June, a period known in Iran as Q1 of the Persian calendar.
Iran's economy experienced a contraction of over 10% during the Middle East war, according to official data released by the Statistical Center of Iran. The economic decline occurred from late March to late June, encompassing the first quarter of the Persian calendar year. This downward trend was triggered by the US-Israeli attacks that began in late February, which resulted in the death of Iran's supreme leader and senior military officials.
The conflict subsequently spread throughout the Middle East, leading Iran to retaliate by blocking the Strait of Hormuz, causing a surge in global oil prices. The country has faced economic challenges for years, including hyperinflation and a devalued currency, exacerbated by economic sanctions.
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- Iran’s economy shrank during US war, official data shows freemalaysiatoday.com
