A record boom in Tehran’s stock market will end in a spectacular crash that could trigger a prolonged depression producing multiple bankruptcies, mass unemployment, and acute economic hardship, analysts say.
The warning follows months of soaring share prices that have prompted officials in Iran’s Islamic regime to proclaim that the country’s economy is flourishing despite fresh international sanctions aimed at combating its nuclear program.
The Tehran bourse index passed 17,900 on August 30, compared to 12,537 points on the final day of the last Iranian year in March, following a sustained wave of stock sales and purchases. The upward trend has pushed the exchange’s total value to more than $80 billion, up from $70 billion in mid-July.
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