What you Need to Know About the Iranian Economy and Persian language

Tough sanctions from the US have strongly hit the Iran economy because of their missile program. With many people earning less than $150 a month, Iran now suffers from massive inflation and unemployment rates.

Oil has been the main contributor to Iran’s $454 billion GDP, but the sanctions have proven to derail its economy as many companies do not want to work with them. Also, the pandemic has made it even worse as major businesses had to close down.

With small businesses and SMEs being the majority in the economy, the pandemic has caused a standstill for such firms. The government does not provide solutions like decreasing the interest rates or grants to such businesses.

As the country is heading for an election, will the new president restore the glory of this nation, or will it be worse for the Iranian people?

Around 70 million people speak the Persian language, most of them coming from Iran, called Farsi. Other countries that speak Persian include Afghanistan (Dari) and Tajikistan (Tajik), making it among the top 20 languages in the world

Most people confuse Persian with Arabic because they use the same script, but it’s not.

In general, Iran has proven to be a close watch country because of its missile programs which have caused a buzz in the global society. I believe the country could be one of the best economies in the Middle East with good leadership.