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August 6, 2013       Share:    

Source: http://www.washingtonpost.com/world/national-security/irans-economic-crisis-deepens-as-rouhani-prepares-to-take-office/2013/08/02/530ba704-fba7-11e2-a369-d1954abcb7e3_story.html?hpid=z4

Iran's Economic Crisis Deepens

(Washington Post) Joby Warrick and Jason Rezaian - A welter of new data on Iran's economy shows accelerated financial hemorrhaging across multiple sectors, from plummeting hard-currency reserves to steadily falling oil exports, Iran's main source of foreign cash, as Western sanctions cut ever deeper into the Islamic republic's financial lifelines and increase pressure for a nuclear deal. Iranian officials last month reported an inflation rate of 45% - compared with 32% earlier in the summer - while also acknowledging that the economy is set to contract for the first time in three decades.

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