Yahya Al-Ishaq: 45 Million Iranians Are in Economic Hardship

The head of the Iran-Iraq Chamber of Commerce, Yahya Al-Ishaq, stated that the current per capita income in Iran has decreased by about 30 percent compared to 1976, and the welfare of the people has faced 'challenges' compared to 40 years ago, with 45 million citizens in Iran experiencing 'economic hardship.' On Tuesday, March 21, he told the 'Quds Online' website that 'unfortunately, the per capita income and fixed prices have currently dropped to about 70 percent of the incomes of 1976.' Al-Ishaq assessed this decline in per capita income as a sign of the challenges facing people's welfare, adding that over 60 percent of Iranians 'cannot match their expenses with their incomes.' He noted that currently, 45 million people in Iran, who are part of the 'middle class,' are in economic distress. Al-Ishaq also mentioned that Iran has between two to eight million unemployed individuals, and residents of large cities 'spend two-thirds of their salaries on housing rent.' This economic activist further stated that currently, 94 percent of production units in Iran are 'in the worst possible condition.' According to him, 'over 70 percent of small and medium-sized production units are either closed or operating at 30 percent capacity.' Iran's economy has been suffering from high inflation, high liquidity, unemployment, and stagnation for years, and these factors have contributed to social damage, dissatisfaction, and widespread corruption in the country. In 1977, Iran's per capita income was $2,146, which increased to $4,525 in 2012, indicating minimal growth compared to neighboring countries, including Turkey. According to government statistics, about 40 million Iranians live below the absolute and relative poverty line, and Iran ranks among the 18 countries with the highest unemployment rates in the world. In terms of the business environment, Iran ranks 152nd globally, and the value of the national currency, which was one of the most reputable currencies in the world before the Islamic Republic, has severely declined, with Iran's currency considered one of the three worthless currencies. In terms of government corruption, Iran ranks 144th in the world, and regarding economic freedom, Iran's global rank is 173rd. Capital flight from Iran has also been on the rise, with Mohammad Reza Khabaz stating in an interview with the House of Representatives news agency that over $600 billion had left the country in the eight years prior to 2013. Many industries in the country, including electricity, automotive, tea, gas, and insurance, are on the brink of bankruptcy. In terms of countries' economic competitiveness and their ability to provide welfare for their citizens, Iran ranks 88th in the world.