Whereas in March 2024, it was trading at 600,000 to the US dollar, one year later the rate has fallen to more than 1,000,000. This massive devaluation is driving inflation further, making imported goods more expensive,
The article from MSN discusses the severe economic challenges faced by Iran's middle class amidst the country's ongoing economic crisis. It highlights how sanctions, mismanagement, and corruption have led to skyrocketing inflation, a plummeting currency value, and widespread unemployment. The middle class, once the backbone of Iran's economy, is now struggling with diminished purchasing power, as basic goods become increasingly unaffordable. The piece details personal stories of individuals who have seen their life savings eroded and their standard of living decline, with many forced to take on multiple jobs or leave the country in search of better opportunities. Furthermore, the article touches on the government's attempts to mitigate the crisis through subsidies and economic reforms, but notes that these measures have often been insufficient or poorly implemented, leaving the middle class particularly vulnerable.
Business & Finance
Sun, March 30, 2025
