![An Iranian customer pays with local currency for her purchase at a shop in the Islamic republic's capital Tehran, on April 24, 2019. Iranians, already hard hit by punishing US economic sanctions, are bracing for more pain after Washington abolished waivers for some countries which had allowed them to buy oil from Iran. / AFP / ATTA KENARE](https://thenational-the-national-prod.cdn.arcpublishing.com/resizer/v2/JOC6IYEUAR46GZPYHFTDHXWLRY.jpg?smart=true&auth=8c0ba2cda94e801c9d2c375390a1c45a55494a07fb74c3f800ec8d1fe04d1244&width=400&height=225)
The Iranian economy is exptected to move deeper into recession this year. AFP
The Iranian economy is exptected to move deeper into recession this year. AFP
Iran inflation to rise to about 40% as sanctions bite and recession deepens
Iran’s economy, which contracted 3.9 per cent in 2018 is estimated to shrink 6 per cent this year, IMF estimates