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.
Economic data from Iran reveals that the nation's GDP contracted by an alarming 10.1% year-over-year from late March to late June, the period known as the first quarter of the Persian calendar. This decline came during a period of conflict between Iran and the US that began with US-Israeli attacks in late February, resulting in the death of the Islamic republic's supreme leader and senior military officials.
The strikes led to Iran's retaliation, including the blocking of the Strait of Hormuz, which caused global oil prices to surge. The conflict had a significant impact on Iran's already struggling economy, which has long been plagued by hyperinflation and currency devaluation, largely due to economic sanctions.
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- Iran’s economy shrank during US war, official data shows freemalaysiatoday.com
