A Failed State Under 'The Khamenei 'Tyranny'.
Once projected to be among the world's big holders of petroleum reserves, mainly natural gas, Iran's theocracy now risks becoming politically close to joining the list of failed states. Most of its people privately call their regime an "oppressive tyranny under Supreme Leader Ayatullah Ali Khamenei".
The majority of Iran's population is deprived of the country's natural resources which - according to its critics - have been wasted, while the ruling class is rich because it is excessively corrupt. Iran could become acutely short of water as well as commercially exportable crude oil in the near future.
Supreme Leader Ayatullah Khamenei is said to be one of the world's wealthiest men. Khamenei is said to have a private wealth ranging from US$120 bn to 190bn.
Iran is the second largest economy in the Greater Middle East (GME), including North Africa, next to Saudi Arabia, with a 2016 GDP of US$412.2bn according to the latest World Bank over-view out in October 2017. Iran has the GME's second largest population, put at 89m+ in 2017, coming next to Egypt. Iran's economy is characterised by petroleum, agriculture and services, and a strong state presence across the board.
Iran ranks second in the world in natural gas reserves next to Russia's. But it is poorer than its Arab Gulf (GCC) neighbours in proven crude oil reserves. Economic activity and state income still depend to a large extent on crude oil revenues. Therefore its economy is volatile.
Tehran's economic strategy is based on free-market reforms as reflected in the state's 20-year vision and the 6th five-year development plan for the 2016-21. The plan is comprised of progress in science and technology, and promotion of cultural excellence. It envisages an annual GDP growth rate of 8% and reforms of state-owned enterprises, the financial and banking sector, and allocation/management of oil revenues among the main priorities in the five-year period (Cont'd in sbme6).
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|Publication:||APS Diplomat Operations in Energy Diplomacy|
|Date:||Jun 30, 2018|
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