FRANCE 24 English published this video item, entitled “Economic challenges loom over Iran as it holds presidential election” – below is their description.
With Iranian voters heading to the polls for a presidential election, we take a closer look at the economic situation in the country. As Iran grapples with tough US sanctions, the economy suffers from hefty inflation and double-digit unemployment. Also, HSBC is finally set to announce a deal to sell its French retail operations to American private equity firm Cerberus. And more and more businesses in the US are offering Juneteenth as a paid holiday to commemorate the end of slavery.
FRANCE 24 English YouTube Channel
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About This Source - FRANCE 24 English
The video item below is a piece of English language content from France 24. France 24 is a French state-owned international news television network based in Paris.
France is a republic and the largest Western European nation. Through expansion and colonisation in the 17th and 18th centuries France became a great power and still retains territories around the world. It has a seat on the UN security council and is the world’s fourth most wealthy country with a high standard of living and strong cultural identity.
In economics, inflation refers to a general progressive increase in prices of goods and services in an economy. When the general price level rises, each unit of currency buys fewer goods and services; consequently, inflation corresponds to a reduction in the purchasing power of money.
Iran, also called Persia, officially the Islamic Republic of Iran, is a country in Western Asia. Its central location in Eurasia and proximity to the Strait of Hormuz give it significant geostrategic importance. Tehran is the capital and largest city.
Iran is home to one of the world’s oldest civilizations, beginning with the formation of the Elamite kingdoms in the fourth millennium BC. The Iranian Revolution established the current Islamic Republic in 1979.
Iran’s political system combines elements of a presidential democracy and an Islamic theocracy. Iran is a founding member of the UN, ECO, OIC, and OPEC. It is a major regional and middle power and has large reserves of fossil fuels — including the world’s largest natural gas supply and the third largest proven oil reserves.
The country’s rich cultural legacy is reflected in part by its 22 UNESCO World Heritage Sites. Historically a multi-ethnic country, Iran remains a pluralistic society comprising numerous ethnic, linguistic, and religious groups, the largest being Persians, Azeris, Kurds, Mazandaranis and Lurs.
