Iranian economy enters 3rd consecutive year of recession after triple-shock

High inflation placed additional economic stress on lower-income households following a sharp depreciation of the currency.

World Bank | Updated: 04-01-2021 18:38 IST | Created: 04-01-2021 18:38 IST
Iranian economy enters 3rd consecutive year of recession after triple-shock
The Special Focus chapter of this report presents recent poverty figures and assesses the welfare and poverty impacts of the Coronavirus (COVID-19) pandemic in Iran. Image Credit: ANI

The Iranian economy entered a third consecutive year of recession following the triple-shock of sanctions, oil market collapse and Coronavirus (COVID-19).

High inflation placed additional economic stress on lower-income households following a sharp depreciation of the currency. As Coronavirus (COVID-19) cases surged, stricter measures were enforced in Fall 2020 and new social transfers were announced.

This Iran Economic Monitor (IEM) provides an update on key economic developments and policies. It examines these economic developments and policies in a longer-term and global context and assesses their implications for the outlook for the country.

Its coverage has ranged from the macroeconomy to financial markets to indicators of human welfare and development.

The Special Focus chapter of this report presents recent poverty figures and assesses the welfare and poverty impacts of the Coronavirus (COVID-19) pandemic in Iran.


TRENDING

OPINION / BLOG / INTERVIEW

Why unequal access to coronavirus vaccines is a threat to us all

... ...

India’s love affair with fossil fuels: the path to sustainable development?

... ...

Videos

Latest News

U.S. president, Saudi king speak ahead of expected Khashoggi report release

U.S. President Joe Biden on Thursday told Saudi King Salman he would work for bilateral ties as strong and transparent as possible, the White House said, ahead of the expected release of a sensitive U.S. intelligence report on the 2018 murd...

U.S. Senate panel sets hearing for Biden's No. 2 and No. 3 Justice Department picks

The U.S. Senate Judiciary Committee on Thursday announced it will hold a confirmation hearing on March 9 for President Joe Bidens nominees to serve in the No. 2 and No. 3 top jobs at the U.S. Justice Department. Lisa Monaco, a former federa...

US president believes it's important to modernise immigration system: WH

US President Joe Biden believes that it is important and long overdue to modernise the immigration system, and this includes taking steps to help ensure high skilled workers can stay in the country, the White House has said.Biden has revoke...

Biden: U.S. to launch massive effort to educate Americans about COVID-19 vaccines

U.S. President Joe Biden said on Thursday his administration plans to launch a campaign to educate Americans about coronavirus vaccines in anticipation of a period later this year where supply may outstrip demand because of vaccine hesitanc...

Give Feedback