The Iran Project

Iran’s economy incurs heavy losses from natural disasters

Financial Tribune – Floods have inflicted losses worth nearly 90 trillion rials [$690 million] on Iran’s economy in the fiscal 2019-20.

The Crisis Management Organization put flood damage suffered by three provinces at 30 trillion rials ($230 million) and spring inundations during March-April 2019, which involved 15 provinces, at 60 trillion rials ($459.77 million).

To get a sense of just how big these figures are, you need to compare the registered capital of two major Iranian carmakers, namely Iran Khodro and SAIPA, which is about 50 trillion rials ($383.14 million) and the aforementioned flood losses incurred during 10 months, reads an article published in the Persian newspaper Shahrvand.

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