March 3, 2025 Meet the Middle East

Economic woes cast shadow over Iran holiday season

Shops and markets in central Tehran, usually teeming with customers ahead of the Persian New Year, now barely see any buyers, a sombre reflection of the dire state of the Iranian economy.The plummeting currency and double-digit inflation, which have reduced the number of holiday shoppers to a trickle, were behind a parliament vote on Sunday to remove finance minister Abdolnaser Hemmati.At Tehran's Grand Bazaar, underwear vendor Mohsen said that "business is going very badly. I cannot describe how catastrophic it is."
Source: Al Monitor
Full Article: Economic woes cast shadow over Iran holiday season