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المشهد العربي
Iran's GDP shrinks 10.1 percent
Iran's gross domestic product recorded a year-on-year decline of 10.1% during the first quarter of the Persian calendar year, as the country was heavily impacted by sanctions and regional tensions, especially after the Israeli and American missile strikes that targeted the country in late March and early June. Iran's economy is heavily reliant on oil exports, which were significantly affected during this period amidst ongoing disputes over the Strait of Hormuz, a vital passage that accounts for around 20% of the world's oil supplies. This crisis occurs amid escalating regional and economic tensions, despite the signing of temporary agreements and ceasefires that did not last long.
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