Economy of Iran

Iran is a mixed economy with a large public sector. It is the world's 21st largest by purchasing power parity (PPP). Some 60% of Iran's economy is centrally planned. It is dominated by oil and gas production, although over 40 industries are directly involved in the Tehran Stock Exchange. The stock exchange has been one of the best performing exchanges in the world over the past decade. With 10% of the world's proven oil reserves and 15% of its gas reserves, Iran is considered an "energy superpower". A unique feature of Iran's economy is the presence of large religious foundations called bonyads, whose combined budgets represent more than 30 percent of central government spending. Price controls and subsidies, particularly on food and energy, are heavily prominent in the economy. Contraband, administrative controls, widespread corruption, and other restrictive factors undermine private sector-led growth. The government's 20-year vision (as of 2020), involves market-based reforms reflected in the government's, with a five year development plan (FY 2016 to FY 2021) focusing on "a resilient economy" and "progress in science and technology". Most of the country's exports are oil and gas, accounting for a majority of government revenue in 2010. However in March 2022, the Iranian parliament under new president Ebrahim Raisi decided to eliminate a major subsidy for importing food, medicines and animal feed, valued at $15 billion in FY2021. Also in March 2022, 20 billion tons of basic goods exports from Russia including vegetable oil, wheat, barley and corn were agreed. Iran's educated population, high human development, constrained economy and insufficient foreign and domestic investment prompted an increasing number of Iranians to seek overseas employment, resulting in a significant "brain drain". However, in 2015, Iran and the P5+1 reached a deal on the nuclear program which removed most international sanctions.

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Foreign direct investment in Iran (FDI) has been hindered by unfavorable or complex operating requirements and by international sanctions, although in the early 2000s the Iranian government liberalized investment regulations. Iran ranks 62nd in the World Economic Forum's 2011 analysis of the global competitiveness of 142 countries. In 2010, Iran ranked sixth globally in attracting foreign investments. Foreign investors have concentrated their activity in a few sectors of the economy: the oil and gas industries, vehicle manufacture, copper mining, petrochemicals, foods, and pharmaceuticals.

Mahmoud Ahmadinejad

Mahmoud Ahmadinejad (Mahmūd Aḥmadīnažād mæhmuːd(-e) æhmædiːneʒɒːd), born Mahmoud Sabbaghian (Mahmoud Sabbāghyān, 28 October 1956), is an Iranian principlist and nationalist politician who served as the sixth president of Iran from 2005 to 2013. He is currently a member of the Expediency Discernment Council. He was known for his hardline views and nuclearisation of Iran. He was also the main political leader of the Alliance of Builders of Islamic Iran, a coalition of conservative political groups in the country, and served as mayor of Tehran from 2003 to 2005, reversing many of his predecessor's reforms.

Economy of Iran