Battered by years of sanctions, Iran’s economy is hurting from the oil price slide. But Tehran expects to ride out this storm, like it has done others before it.
That Iran’s economy is suffering is in no doubt. Years of US, EU and UN sanctions have weakened the national currency tremendously, hit state revenues hard, and driven up living costs that were already soaring on the back of a 2010 government decision to begin removing subsidies on energy and foodstuffs. (CONTINUED - 2264 WORDS)