(Persia Digest) – Iran’s economy is facing unusual times. IMF reports that Iran has the leading economic growth among oil-rich countries in the region on the one hand, and the price of some goods, cars, gold, and housing is climbing sharply on the other.

People are not happy about the economic situation in Iran these days. The value of rial is dropping daily against the dollar, to the extent that one US dollar is now equal to 9000 tomans in Iranian currency. Government officials call it unnatural and a bubble. The Minister of Economy sees the problem of rising prices on some markets as a result of increased liquidity. However, they do not conceal the fact that these conditions are due to the economic war that America is waging on Iran.


Read more: 

► Iranians start campaign to fight rising costs

► Political and economic reasons of rising exchange rates


Yesterday, the mobile and home appliances market (Ala-e-Din and Charsu) shopkeepers were on strike; today, the big bazaar in Tehran and Amin bazaar also went on strike to protest the volatile exchange rate on the forex market. A group of bazaar shopkeepers in Tehran closed their shops on Monday morning and gathered in the bazaar to protest the unprecedented rises on the forex, gold, and gold coin markets. A few months ago, the bazaar in Baneh, western Iran, also went on strike for a few weeks due to the borders closing.

The IMF says Iran is the world’s 18th economy and has forecast a 4 percent economic growth for it in 2018 and 2019. But what is tangible for the people today are the hard economic times.

Some analysts see this as a result of the psychological pressures due to the US withdrawal from the JCPOA. Others blame profiteers for this. But clearly, this situation cannot endure for very long and the government must find an immediate remedy for it.

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