Part 7/12:
This continued reliance on oil has prevented modernization and diversification, as industries outside of oil remain underdeveloped. The economy crumbles further as sanctions limit Iran's ability to bring in foreign investment and modern technology, thus trapping the nation in a vicious cycle of poverty.
Corruption and Governance Issues
At the heart of these economic woes lies rampant corruption and mismanagement. The Iranian government, under the guise of providing subsidies, has allowed billions to be misappropriated by elites linked to state institutions. Subsidies meant to support basic needs have inadvertently created an environment of waste and inefficiency.