Public Debt in Iran
Iran - Public DebtThe economy remains under siege from U.S. economic sanctions, with August’s crude oil production down an estimated 1.4 mbpd compared to August 2018 and oil exports largely choked off. That said, exports of oil products are still robust, as the large number of buyers makes it harder to enforce sanctions. In September, Iran imposed export tariffs on steelmaking raw materials to support Iran’s domestic steel industry. This should weigh heavily on Iran’s exports of iron ore, which totaled 17 million tons last fiscal year. On the political front, France suggested extending Tehran a USD 15 billion credit line in an attempt to salvage the 2015 nuclear deal. However, this proposal relies on U.S. approval, which has thus far not been forthcoming—and seems increasingly unlikely given the escalation of tensions following attacks on Saudi’s oil facilities in mid-September.
Iran - Public Debt Data
|Public Debt (% of GDP)||10.7||11.8||38.4||47.5||39.5|
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