Iran's economy in ruins: 40-Day war causes $270B loss, 12-year recovery ahead
The war has led to massive destruction of buildings, industries, and infrastructure, with significant impacts on oil exports and global trade. Iran's economy was already struggling with sanctions and inflation before the conflict
New Delhi (The Uttam Hindu): Amidst the ongoing intense tensions between the US and Iran and the rumors of a ceasefire, a very frightening picture has emerged. Iran's economy, scorched by the fires of war, has completely collapsed. A secret report recently submitted by the Central Bank to President Masoud Pezeshkian has shocked the entire world. According to the latest data, Iran has suffered a devastating economic loss of $270 billion in just 40 days of this fierce war, due to which all hopes of a reduction in tensions between the two countries appear to be fading.
US and Israeli attacks led to poverty
Iranian government spokesperson Fatema Mohajerani has made a significant revelation regarding this massive devastation. She stated that initial estimates indicate that the US and Israeli attacks have caused Iran a massive loss of approximately $270 billion (hundreds of billions of rupees). According to Mohajerani, this is just a preliminary figure. Government economic teams are conducting a detailed assessment of this catastrophe in several stages, after which the actual and even more horrific figures of the losses may be revealed.
From buildings to industries, there was massive destruction, compensation will be sought
Regarding this assessment of the devastation, the spokesperson stated that the first phase is assessing the damage to razed buildings and infrastructure. The second phase will provide a more in-depth assessment of the losses caused by the massive drop in budget revenues and the complete shutdown of industrial centers. Furthermore, Iran is now preparing to seek reparations from the United States for this military devastation. Mohajerani clarified that the Iranian negotiating team is vigorously raising this important issue of military reparations with US officials.
The frightening truth of the Central Bank report: it will take a decade to recover
According to a sensational report by Iran International, the devastating 40-day war has completely devastated Iran's already crippled economy. This assessment, sent to President Masoud Pezeshkian by senior Central Bank officials, reveals a grim reality. Officials warn that it could take at least 12 years for the country to fully recover from the devastating economic devastation caused by the war and get its economy back on track.