Iranian Economy Shrinks Only 3% Despite COVID-19 Pandemic: President Rouhani

Despite the COVID-19 pandemic wreaking havoc on global economies with declines of up to 20%, Iran’s economy has only contracted by 3%, according to Iranian President Hassan Rouhani.

Speaking at a recent cabinet session, Rouhani emphasized the Iranian administration’s accomplishment of ensuring the country’s economy was able to withstand pressures by implementing policies under the ‘Resistance Economy’ concept, which enabled the country to handle external shocks such as rapidly declining oil prices and US sanctions.

Rouhani added that Iran’s ability to counter past external shocks had prepared the administration to handle the COVID-19 pandemic, no...