Iranian experts estimate that the economic losses from Operation Epic Fury amount to $280 billion, excluding damages from subsequent operations and the naval blockade. This figure was presented by Hossein Nouhi, a certified construction expert in Tehran, during an event at the University of Tehran’s Faculty of Urban Planning, as reported by Iran International. Nouhi noted that this estimate pertains only to direct losses incurred during the initial 40 days of combat operations, and does not account for the costs of restoring industrial production or intangible factors such as psychological impacts.
The event provided insights into the extent of damage during the conflict, particularly in Tehran, which was confirmed to be the most affected area with 650 strikes. Municipal figures indicated that the strikes resulted in the destruction or damage of 50,849 housing units, with 2,042 completely destroyed and 9,315 heavily damaged.
District 4 of Tehran was reported as the hardest hit, experiencing 90 strikes, while District 21 followed with 62 strikes. The economic damage estimate of $280 billion is significantly higher than many Western assessments, which range from $50 billion to $300 billion, with $144 billion as a likely middle estimate, according to the Foundation for the Defense of Democracies.
Iran's economy was already in a precarious state before the war, leading to widespread protests and a subsequent crackdown. Economists have warned that the situation is deteriorating, with inflation exacerbating the crisis. Central Bank Governor Abdolnaser Hemmati stated that per-capita income has dropped by 47%, reaching levels not seen since the 1990s. The Misery Index, which combines inflation and unemployment rates, has reached an all-time high of 91.1 points, indicating a severe economic crisis.