Middle East Economic Survey

VOL. LI

No 44

03-Nov-2008

IRAN

Iran Admits Financial Tsunamis Adverse Effects On Economy

Iran has finally admitted that the world financial crisis and the economic recession will hurt the economy, despite earlier claims that the country was immune from what was termed as the disease of the west. With the collapse of oil prices to less than 50% of their levels in July, Iranian officials have been quick to point out that oil export revenues in the year 2008-09, which ends...