Skip to Content

Iranians facing economic crisis find little New Year’s cheer

KIFI

By The Associated Press

DUBAI, United Arab Emirates (AP) — Iran’s bazaars are packed ahead of the Persian New Year next week. But there’s little holiday cheer as customers survey the soaring prices of meat and holiday treats, wondering if they can afford either. Others are there to sell goods on the sidewalks, forced into a new and degrading side business to make ends meet. Crippling Western sanctions, on top of decades of economic mismanagement, have plunged the country into a severe crisis. The Iranian currency recently dropped to a record low. Months of antigovernment protests failed to unseat the ruling clerics and prompted a violent crackdown. That’s also dashed hopes of any return to the 2015 nuclear deal with world powers, which had lifted sanctions.

Article Topic Follows: AP National Business

Jump to comments ↓

Author Profile Photo

Associated Press

BE PART OF THE CONVERSATION

KIFI Local News 8 is committed to providing a forum for civil and constructive conversation.

Please keep your comments respectful and relevant. You can review our Community Guidelines by clicking here

If you would like to share a story idea, please submit it here.

Skip to content