Iran begins the year in a subtle mood due to economic crisis

To bring in the New Year with good luck the Iranians have been stocking up their houses with food and gold which are traditionally known as a symbol of prosperity. However the year has turned otherwise for them. The reign of the president, Mahmoud Ahmadinejad, has led to a period of increasing unemployment and rocketing inflation due to his populist economic polices and has resulted in an electoral backlash.

The 14th March elections, which were held for most Iranians, were about economy rather than a political battle. Most of the Iranians are finding it very difficult to make ends meet as a result of sharp increase in prices of basic foods like chicken eggs and rice. The unemployment level is nearly around 70 per cent of a 70 million population which is around 10 per cent higher. And according to an analyst the mismanagement in the economy is entirely blamed on the carelessness of the government.

The main people who are suffering at the moment are the people are the ones who were the biggest supporters of Mr. Ahmadinejad in the presidential elections of 2005. According to Saeed Laylaz, who is an economic commentator, says that the inflation rate caused hundreds of people to go below the poverty line. The food prices have also tripled since last year making it very difficult to live. As a result of this, at the moment the future does not took bright for most of the Iranians unless certain drastic measures are taken.

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