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Iran: Central Bank exposes regime’s economic crises

Cash CrashNCRI – The Iranian regime’s Central Bank has admitted in a new report that the economy ‎in Iran has come under tremendous pressure as a result of various crises and a significant ‎drop in oil revenues.‎

According to the report, “The economic crisis has had a significant impact on the ‎country’s economy. … The reduction in exports and foreign currency reserves are an ‎outcome of the impact of the global economic crisis on the Iranian economy.”‎

The report also indicates that oil prices have slumped up to 13 percent, the housing market ‎is facing a recession, last year alone 8.6 billion dollars worth of agricultural products were ‎imported into Iran, and even if an hour a week were to be considered a job, still more ‎than 3 million people are unemployed.‎

According to reports, in the spring of this year alone, the number of unemployed in Iran ‎has jumped by a million.‎

At the same time, an official in the mullahs’ Ministry of Industry and Mines has said that ‎scrapping subsidies will hurt more than 7,000 factories.‎