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Economy & Environment

Iranians borrow for medicine while state shields Arbaeen healthcare

Iranians borrow for medicine while state shields Arbaeen healthcare

A growing number of Iranians are financing healthcare with debt as medical costs rise beyond household incomes, a new Eghtesad Online report found, while authorities prioritize medical preparations for the Shiite pilgrimage, Arbaeen.

Scandal rocks Iran's secret oil money network as billions go 'missing'

Scandal rocks Iran's secret oil money network as billions go 'missing'

A widening scandal over the secret network used to move Iran's oil revenues around international sanctions has triggered growing criticism after senior officials acknowledged that intermediaries misappropriated at least $1.6 billion, with some fleeing the country.

Iran's Alamut Castle inscribed as UNESCO World Heritage site

UNESCO added Iran's Alamut Castle and related fortifications to its World Heritage List on Sunday, making it the country's 30th tangible cultural heritage site to receive the designation.

Iran is living through America’s 2022 inflation shock almost every month

Consumer prices in Iran are nearly 89 percent higher than a year ago, as the country compresses into weeks the kind of inflation shock Americans experienced over all of 2022.

Nearly half of Iranian internet users angry over conflict outage, ISPA poll finds

Nearly half of Iranian internet users angry over conflict outage, ISPA poll finds

Nearly half of Iranian internet users said they were angered by the country's recent internet shutdown during the conflict with the US, while most opposed unrestricted internet access for government officials, according to a survey commissioned by the communications ministry.

Iran bears biggest economic cost of Hormuz closure

Iran bears biggest economic cost of Hormuz closure

Iran's closure of the Strait of Hormuz appears to have dealt far greater damage to its own trade with China than to Beijing's commerce with the rest of the Persian Gulf, according to newly released Chinese customs data.

Russia’s gasoline imports add pressure to Iran’s strained fuel market

Russia’s gasoline imports add pressure to Iran’s strained fuel market

Russia’s turn to imported gasoline after Ukrainian attacks damaged its refineries is adding demand to a tight Asian fuel market, creating a potential new complication for Iran as it struggles to cover a daily shortfall of about 30 million liters.

Unpaid wages push Iranian workers to brink

Unpaid wages push Iranian workers to brink

Iranian workers who have gone months without pay may have only two months of financial resilience left without government intervention, a labor representative warned on Thursday, as wage arrears mount following conflict between the United States and the Islamic Republic.

Iran economists say war is turning malaise into crisis

Iran economists say war is turning malaise into crisis

Iran's leading economists warned Monday that renewed conflict with the United States risks pushing the country's long-festering economic problems into a more dangerous phase, arguing that inflation is becoming increasingly difficult to contain.

 Iran MP says government considering petrol price rise despite war and inflation

Iran MP says government considering petrol price rise despite war and inflation

Iranian officials are discussing a possible increase in petrol prices, although no proposal has yet been formally presented to parliament, the spokesman for parliament’s Energy Committee said.

Iran’s rial hits new low as dollar nears 1.92 million

Iran’s rial hits new low as dollar nears 1.92 million

The US dollar reached a record 1,918,000 rials on Iran’s open market Friday, surpassing its previous high as war, inflation and worsening economic prospects continued to weaken the currency.

Rising daycare fees push Iranian families to rely on grandparents

Rising daycare fees push Iranian families to rely on grandparents

Rising daycare fees and mounting economic pressure are prompting more Iranian families to forgo kindergarten enrollment and rely on grandparents for childcare, raising concerns among sociologists about the long-term impact on children's social development.

Inflation leaves Iranian pensioners unable to cover basic costs

Inflation leaves Iranian pensioners unable to cover basic costs

Iranian pensioners say their monthly income no longer covers basic living expenses, with many forced to seek additional work as inflation continues to erode their purchasing power.

Iran parliament probes favoritism in $55 million medical-import allocation

Iran parliament probes favoritism in $55 million medical-import allocation

Iran’s parliamentary health committee is investigating the allocation of $55 million in subsidized foreign currency to one importer of hip and knee implants, after its chairman said much of the equipment went to private hospitals and a small group of surgeons.

Persian Gulf startup hubs hold firm despite Iran war - Bloomberg

Persian Gulf startup hubs hold firm despite Iran war - Bloomberg

The Iran war has yet to trigger an exodus of entrepreneurs from the Persian Gulf, but falling investment, rising costs and slower funding are beginning to test the region’s heavily financed startup strategy, Bloomberg reported on Tuesday.

Why so few Iranians have jobs despite low unemployment

Why so few Iranians have jobs despite low unemployment

Barely 37 percent of working-age Iranians have a job. Yet the government's official unemployment rate is only 7.5 percent. The gap between those two figures reveals less about Iran's labour market than about the way it is measured.

Plastic waste becomes major environmental challenge in Iran

Plastic waste becomes major environmental challenge in Iran

Plastic waste has become a major environmental challenge in Iran, with poor enforcement of waste management regulations allowing single-use plastics to pollute natural areas and water resources, the country's environment chief said on Sunday.

Iran faces region’s harshest mix of wartime contraction and inflation

Iran faces region’s harshest mix of wartime contraction and inflation

War has erased Iran’s already weak growth prospects. The economy shrinks as prices rise at one of the region’s fastest rates, forcing households to bear war, sanctions and years of economic mismanagement through fewer jobs, weaker incomes and collapsing purchasing power.

For many Iranians, paychecks now barely cover food

For many Iranians, paychecks now barely cover food

Years of high inflation have pushed millions of Iranian households into a struggle over basic expenses, with new estimates showing wages barely cover food costs before rent, healthcare and other necessities are even considered.

Iran’s economic pain deepens as factions trade blame

Iran’s economic pain deepens as factions trade blame

As Iran navigates renewed confrontation with the United States and uncertainty over a fragile diplomatic process, a deeper crisis is returning to the center of public debate: how much longer ordinary Iranians can absorb the economic cost.

A remote bridge shows how US-Iran war is expanding

A remote bridge shows how US-Iran war is expanding

A reported US strike on a railway bridge in northern Iran has drawn attention to a lesser-known front in the widening conflict: the battle over the transport corridors linking Iran to Central Asia, Russia and China.

Iran's costly farewell for supreme leader draws backlash

Iran's costly farewell for supreme leader draws backlash

The Islamic Republic's state funeral for Ali Khamenei has drawn criticism over its attendance, the extensive public resources devoted to the event and what many Iranians described as an unsuccessful attempt to project political strength, following the burial ceremony.