How did Iran manage its wartime economy for 8 years?

How did Iran manage its wartime economy for 8 years?

Houri Ghasemi - Political Correspondent for IRNA

🔹 Iran and Iraq's 8-year defense of Jerusalem did not take place only on the front lines; behind the front lines, the country's economy was involved in a large-scale battle. In this situation, Iran tried to keep the economic wheel turning through the rationing of goods, foreign exchange and import management, support for domestic production, and a shift in budgetary priorities; an experience that shows how an economy can manage its limited resources under the most difficult conditions to maintain defense and human lives.

🔹 Iran's economy before the revolution was largely dependent on oil revenue. With the start of the war, Iran's oil facilities became targets for Iraqi attacks, oil exports encountered problems, and oil production experienced a sharp decline. According to historical data, Iran's oil production dropped from about 5.7 million barrels per day in 1977 to about 1.4 million barrels per day in the summer of 1980. Of course, Iran later managed to restore some of its production and exports.