|
Trending Topics
|
Source: http://www.economist.com/node/17493366
Iran's President Nuked by the Economy?
(Economist-UK) Xan Smiley - It is the economy that could lead to Ahmadinejad's downfall. Unemployment has been rising inexorably. The official rate of 15% is surely an underestimate; the official figure for the jobless young was 29% and rising. The production of oil, the country's main source of income, has been steadily falling due to a lack of technology and investment. In 1978 Iran produced 6m barrels a day; in 2000, 4.5m; most recently, 3.5m. This will fall further in 2011. The official inflation rate is 9%; the unofficial figure is at least 30%. Meanwhile, sanctions are biting, making it ever harder for the country to get credit or foreign investment.