Iran’s Economy Stumbles, Widening the Gap between Rich and Poor

Iran has always been a wealthy nation but because of the socialist ideals of the Iran’s 1979 Islamic Revolution, Iranians have not been able to flaunt their wealth and show the world just what they have. Things have changed though and today, you can clearly tell the rich from the poor. From the ever-congested traffic in major towns and cities, you can clearly see flashy cars such as Lamborghinis, Porsches and Ferraris, something that was unseen several years ago.

The young rich Iranians are also posting pictures of their wealth and their fancy lifestyles online to show off to the world the kinds of parties they attend, the cars they drive, their mansions and anything luxurious that money can buy.

This, coming after the renewed US economic sanctions, which were actually re-imposed after the US president withdrew his country from the Iran nuclear deal last year, does not match at all. Iran is not as rich as it used to be. Even the wealthiest merchants can feel the effects of the sanctions, which have made the country’s economy volatile. Prices of commodities have started to rise, but still, there are those Iranians that are still enjoying life.

Ordinary Iranians are dealing hard with medical shortages for instance, while in other parts of the country, Botox treatment centers are still full with clients.

Iran’s currency has also dropped in value, leading to an increase in the prices of goods and services throughout the country. This year alone, so many economic protests have been held. Other Iranians are angry over corruption and mismanagement of government resources, which has been worsened by the sanctions. This is just the beginning as things are expected to get harder as time goes by.

Even so, there are still those Iranians who have not tasted the heat. They still flaunt their wealth even when majority of their countrymen are struggling to make ends meet every day. The gap between the rich and the poor is widening by the day. Everyone is trying to survive since there is no certainty about the future of the country and what it holds.

Edison Carroll

Leave a Reply

Your email address will not be published. Required fields are marked *