Iran’s Economy Struggles Amid Ongoing Conflict
- In Iran, the economy is being severely tested by the ongoing conflict.
- The country has seen waves of job cuts and business closures.
- These have been triggered by strikes and the government’s decision to cut off the Internet.
Grocery shopping has become a real challenge for Iranians. Since the start of the war, Mohammad Deljoo, a taxi driver, has been living on four dollars a day to feed his family. “Many things we need for the house, we simply crossed off the list
,” he told LCI, as seen in the video at the top of this article.
He continues: “We don’t even look to buy them anymore. We only buy the essentials, like bread and potatoes. Even eggs have become too expensive for us
.” It’s worth noting that inflation reached 50% in April, the highest rate since 1979.
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The repercussions of the war and the government-mandated Internet shutdown are leading to massive job losses and business closures. “To be honest, the economic situation is terrible right now. There is practically no money to be made, and making a living is a real struggle
,” shares a young Iranian.
“Personally, I have two jobs right now. I do street vending and work for a ride-hailing app
,” he adds. To cope with hyperinflation, the government increased the minimum wage by 60%. Tehran has called for the lifting of the blockade and American sanctions.
