Is Iran’s economy turning downward?

{ Posted on Jan 30 2009 by Connie Madon }
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The global economic slowdown is now reaching countries that once were immune from trouble. Let's take Iran, for example. Conventional thinking would be that Iran has so much oil money that their economy will not suffer. This is not true. A host of factors have converged on the Iranian economy to create an economic crisis.

First and foremost Iran's economy has suffered from a drop in the price of oil to below $50.00 per barrel. In August the International Monetary Fund warned that Iran could face a serious budget shortfall if oil prices slid below $75.00 per barrel.

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Is Iran's economy turning downward? originally appeared on BloggingStocks on Fri, 30 Jan 2009 15:05:00 EST. Please see our terms for use of feeds.

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