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8 unbelievable facts about Iran's economy

Business Insider | Jun 10, 2019, 07.55PM IST

FILE PHOTO - Iran's Supreme Leader Ayatollah Ali Khamenei speaks during Friday prayers in Tehran September 14, 2007. REUTERS/Morteza Nikoubazl/File Photo

Reuters

Iran's Supreme Leader Ayatollah Ali Khamenei.


Iran's economy has had a turbulent decade.

In 2016, Iran was on the rise economically, but since 2018, United States sanctions have sent the Middle Eastern nation in a downward spiral. The sanctions had previously been lifted under the 2015 nuclear deal between the two countries.

Now, experts predict that Iran will face a shrinking economy, ballooning inflation, and a significant budget deficit.

As Iran looks to the future, it's relying on trade partners other than the US in hopes to get its economy back on track.

Here are eight surprising facts about Iran's economy.

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