2024-10-04 06:14:27
New Delhi: Iran and Israel have reached the brink of war. Israel has taken action against Iran-backed extremist organizations Hamas, Houthi and Hezbollah. In response, Iran fired hundreds of missiles at Israel on Tuesday. Israel has warned of revenge. America has also said to support Israel in this. This means that Iran may have to face big problems in the coming days. This could break the back of Iran’s economy. The people of the country are already troubled by huge inflation. The population of Iran is about 10 times that of Israel. In the year 2022, the size of Iran’s GDP was $413 billion while Israel’s economy was $525 billion. The question is whether Iran’s economy will be able to withstand Israel’s attack? Iran’s biggest source of income is crude oil. But America and Western countries have already imposed many sanctions on Iran. Due to this, the value of the country’s currency has declined significantly. The value of one Indian Rupee is equal to 501.24 Iranian Rial. Inflation is at its peak in the country and if Israel attacks it, its economy can be completely destroyed. Due to Western sanctions, the standard of living of the people of Iran has declined drastically. The service sector has 47% share in the country’s GDP, industry 40% and agriculture 12.5%.
People of this country drink 10 times more tea than India, Pakistan is also far ahead of us
Iran vs Israel
The highest revenue of the country’s industrial sector comes from the oil industry. China accounts for more than 90 percent of Iran’s oil exports. Despite the sanctions of Western countries, there has been no impact on oil trade between Iran and China. But Iranian officials fear that Israel could target the country’s oil facilities. Iran’s economy is controlled by the Islamic Revolutionary Guard and Islamic organizations. They do not pay taxes nor do they file any accounts. There is no transparency in the country’s economy.
Experts say that Iran is in no position to fight a war with Israel for a long time. This is the reason why instead of fighting an open war with Israel, it is carrying out a symbolic attack. The population of Iran is about 9 crores while the population of Israel is 95 lakhs. Iran’s defense budget is $9.9 billion while Israel’s is $24.4 billion. Iran’s per capita income is $5,310 while Israel’s is $53.37 thousand. It is clear that Israel is in a position to fight a long war whereas it is not easy for Iran to do so.