By Jubin Katiraie
The Iranian economy is in a much more precarious situation than was predicted just a few months ago, according to political scientist Dr Majid Rafizadeh.
He explained that in April, the International Monetary Fund (IMF) reported that inflation in Iran would reach 40%, while the World Bank estimated in June that Iran’s gross domestic product (GDP) would drop by 4.5% in 2019, which was 0.9% worse than its January prediction. However, Rafizadeh cited data from the Statistical Centre of Iran that paints a bleaker picture, which inflation reaching a huge 50%. This is even worse in rural areas, where inflation has reached 60%, and for food items, given that the cost of meat has risen by 95%.