The Rise of ‘Poor Billionaires’ in Iran

Economics professor at Shahid Beheshti University, Albert Boghzian, has spoken of the emergence of “poor billionaires” in Iran.
In an interview with ILNA, the economist referred to the spread of poverty in the country as well as a report by the Majlis Research Center saying that 89% of Iranian workers and retirees are considered poor.
“When we talk about poverty, we use the economic index as a benchmark. For example, people with lower incomes than that benchmark are considered poor,” he added.
According to Majlis Research Center, a gradual increase in the poverty threshold was registered up to the year ending March 2018. However, the decline in per capita income, the depreciation of the national currency in the fiscal 2018-19 and the rise in the overall price levels have led to sudden surge in the poverty breadline.