Iran Is Watching Its Economy Collapse in Real Time
Iran is now watching its economy unravel in real time. The Statistical Center of Iran reports that GDP collapsed 10.1% during the first quarter of the Iranian calendar year, from March 21 through June 20, compared with the same period last year. Take oil out of the calculation and the economy still
Source: Armstrong Economics
―
DW NOTE
Iran blockaded the Strait for 208 days, cut its own oil exports to nothing, and the economy collapsed 10.1% in a quarter. Turns out you cannot pay civil servants or import food with geopolitical posturing. The theocracy chose strategic theatre over fiscal reality — now it has neither revenue nor leverage.