categorytitle / Publication Update .
  • time : 10:0:18
  • Date : Tue Jun 23, 2020
  • news code : 3366
    /  2
IRC Released Its New Report on
“The Effects of Coronavirus Pandemic on Iran's Economy”
Spreading Covid-19 around the world has led to a destructive impact on economies. These impacts are wary for various economic activities. The aim of the new IRC report is to provide an analysis of the impact of Covid-19 on Iran’s economy with a close focus on the insurance industry. The report explores the macroeconomic measures taken in the Iranian economic context.

The results of IRC's new report show that due to the longstanding continuous sanctions in previous years leading to lower degrees of openness in its economy, Iran has been less affected by the international economic turbulences when compared with other economies.  Yet, the main impact of the covid-19 is revealed itself in the decrease of the oil price (as a result of the economic global crisis) and the direct impacts of the Covid-19 (and preventive measures) on the teamwork and labor-intensive activities. Accordingly, only 60% of the Iran’s economy is affected due to the Covid-19 outbreak.

The report also investigates thoroughly the impacts of the virus outbreak on Iran’s insurance industry using I-O approach. The corresponding results show that Covid-19 leads to approximately 15% decrease in issued insurance premium in the course of the three month period of the pandemic.

The report is originally prepared by Dr. Aziz Ahmadzadeh, faculty member and adviser at IRC and Dr. Ali Souri, faculty member at the Faculty of Economics, University of Tehran, also adviser at IRC.

In order to download the full report, please click on this link.

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