By Mahdi Ghodsi and Ali Fathollah-Nejad
The COVID-19 pandemic has ravaged Iran’s already ailing economy, but the country’s economic crisis is rooted in factors beyond the pandemic’s fallout. Since the United States’ 2018 withdrawal from the Joint Comprehensive Plan of Action (JCPOA – or Iran Nuclear Deal), it has become clear that Iran’s economic woes – especially its currency devaluation – are strongly correlated with key political and geopolitical events. The volatility in the exchange rate and Iran’s currency depreciation are signs of an unhealthy economy.
The impending Iranian presidential election scheduled for 14 June 2013 is widely acknowledged to be one of the most critical in the regime’s thirty-five year history. With the economy in tatters as a result of sanctions and economic mismanagement, and the regime striving to restore its legitimacy following the 2009 election protests, voting patterns and voter turnout will not only influence a possible alternation of power, but may provide insight into the longterm survival of the regime. Hence security has been stepped up, voters have been encouraged to participate, and candidates with both economically rightist and leftist positions have stressed the need for economic growth.