London, 3 Nov - On Wednesday, economic expert close to Iran, Davoud Mirzaie, said that as the country’s currency, the rial, continues to plummet, Iran’s workers have lost 80 percent of their purchasing power.
In an interview with the state-run ISNA news agency, Mirzaie continued. “The 19.5 percent wage increase has not shown itself in the workers’ lives, meaning the value of their wages in March 2018 is far below its value in March 2016. In other words, the workers’ purchasing power has decreased between 50 to 80 percent. This is causing numerous problems for the families of the country’s workers.” He added, “Such conditions have left the workers unable in providing for their basic needs. Therefore, labor unions have time and again called on the Ministry of Labor to see into this issue. Unfortunately, this remained unresolved.”