Iran Economy NewsIran’s Economic Crisis Will Boost New Protests

Iran’s Economic Crisis Will Boost New Protests

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Iran is currently experiencing one of its worst economic situations of the past 50 years. As for who is to blame, the regime’s spokespeople are pointing towards international sanctions. On the other hand, it seems that the state-run media are laying the blame on the regime for the economic crisis.

The state-run daily, Aftab-e Yazd wrote on August 14 that along with the dollar exchange rate rising, the inflation of the prices of goods and services have continued to worryingly skyrocket. Ordinary Iranian citizens are struggling to afford to pay for food and other necessities.

Vahid Shaghaghi-Shahri, one of the state’s economists, described Iran’s economic situation as a ‘straw warehouse which is on fire’.

In a quote from Aftab-e Yazd, he explained the analogy by stating that extinguishing the fire quickly is not possible so the straw must be removed so the fire cannot damage the entire warehouse.

The government started banknote printing to compensate for its budget deficit. The banknote printing has increased the liquidity rate, and since the liquidity growth in Iran is much higher than the production rate, it has caused inflation.

Shahri explained how the major problem of Iran’s economy is that the liquidity growth is very high, up to over 40% in the latest statistics. He also acknowledged that the management capacity of large economic projects in the country is weak as a result of the weak human resources management and other institutionalized problems in the regime.

Iran’s economy suffers from the mullahs. The regime has been wasting the national wealth on terrorism and expanding its unpatriotic nuclear weapons program. The Iranian people have witnessed how their belongings are wasted on terrorism and the regime’s other malign activities. Thus, their hatred toward the regime increases daily.

The state-run media outlet, Eghtesad-e Pouya spoke of a recent report from the Ministry of Welfare’s Center for Statistics and Strategic Information. The report stated that food prices in Iran have now risen by 71 percent and this upward trend of inflation will only continue to rise, with fears that Iran’s economy will eventually move towards an uncontrollable hyperinflation situation.

Eghtesad-e Pouya acknowledged the real concern of the regime’s economists and state media by underlining that ‘Economic and social crises have brought the country to a dangerous point, and if the crisis is not managed and controlled as soon as possible, the [regime] will enter a more difficult path’.

As shown by the recent protests in cities across Iran, the rejection towards the mullahs’ government is greatly apparent. The Iranian people square the blame for Iran’s crises solely on the regime and will continue to demonstrate against the dictatorship and their corrupt policies.

The world community should consider that giving any concessions to the regime would only allow the regime to fuel its warmongering machine, which would have devastating results for the entire world.

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