Economist: Coronavirus to have short-term effect on Iran's economy

Business Materials 3 March 2020 12:24 (UTC +04:00)
Economist: Coronavirus to have short-term effect on Iran's economy

TEHRAN,Iran, March.3


The coronavirus disease will have a short term effect on Iran's economy, Iranian economist Hadi Haghshenas told Trend.

"Like any other global phenomenon, Coronavirus will affect the economies of various countries," he said.

Speaking of effects on Iran's economy, Haghshenas said that lack of tourism development and drop in small businesses' activity are certainly among them.

Eventually, Haghshenas believes, the doctors and scientists will manage to overcome the spread of the virus. He pointed out that cooperation between the ordinary people and officials is required.

Meanwhile, member of Tehran's Chamber of Commerce Abbas Argoon told Trend that the Iranian government should support small business to recover from effect of Coronavirus.

"There should be efforts to prevent further economic losses and implement precautions and health measures," he said.

"As the Central Bank stated, all the banks should help customers during this difficult situation, and Iranian National Tax Admission Organization should have better collaboration with tax payers," he said.

"Unfortunately, restaurants, hotels and travel agencies hoped for better market for the upcoming Nowruz holiday (starts March 21, 2020) were interrupted by the spread of the disease and need government support," he added.

Iran is one of the recent countries, affected by the rapidly-spreading coronavirus. According to recent reports from the Iranian officials, over 1,500 people have been infected, 66 people have already died.

The country continues to apply strict measures to contain the further spread. Reportedly, the disease was brought to Iran by a businessman from Iran's Qom city, who went on a business trip to China, despite official warnings. The man died later from the disease.

Following the reports of coronavirus spread in the Islamic Republic, several countries have taken measures, including closing borders and banning flights.

The Islamic Republic only announced its first infections and deaths from the coronavirus on Feb. 19.