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Dream - Iran has intensified its attacks on Israel on Saturday, April 13, 2024, local time. Hundreds of unmanned aerial vehicles (drones) armed with explosives and missiles were deployed by the Tehran government against various military facilities owned by Zionist Israel.
The attack by Iran on Israel is a retaliatory attack against the Zionist assault on the Iranian consulate in Damascus on Monday, April 1, 2024, around 17.00 local time.
The ability of Iran to launch drone and long-range missile attacks on Israel raises concerns about escalation in the Middle East region. The economic strength of Iran is also a factor. According to a World Bank report, Iran allocated a budget for the military in 2022 amounting to 2.6 percent of the Gross Domestic Product (GDP). In nominal terms, this budget reaches US$6.84 billion or approximately Rp 110.057 trillion (at an exchange rate of Rp16,090).
The military budget comes from the Iranian government's expenditure, reaching 17.3 percent. Iran has a total of 650 thousand personnel in its armed forces in 2020.
Still in the World Bank report, on October 20, 2022, this Middle Eastern country has a leading commodity in its economy, namely oil. Iran's economy is also supported by the hydrocarbon sector, agriculture, and services, as well as the presence of the state in manufacturing and financial services.
"Iran is ranked second in the world for natural gas reserves and fourth for proven crude oil reserves,"
write World Bank in their official website.
"Dream.co.id."
Although relatively diversified for an oil-exporting country, Iran's economic activity and government revenue still depend on oil income. This condition causes Iran's economy to be relatively volatile.
The following is the translation of the given 'Bahasa' text to 'English' while preserving any HTML tags: "The World Bank also explained that a new five-year development plan is being prepared. The previous plan for 2016/17 to 2021/22 consisted of three pillars. These pillars are strong economic development, progress in science and technology, and the enhancement of cultural excellence."
The priorities are the reform of state-owned enterprises and the financial and banking sector, as well as the allocation and management of oil revenues. This plan estimates an annual economic growth of 8%.
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