Iranian economy in critical situation

The economy of Iran is in a critical situation. It has been caused by the Iranian regime’s plundering of the country’s resources and the widespread corruption that it has been responsible for over the course of almost four decades.

On Sunday, U.S. President Donald Trump and his Secretary of State Mike Pompeo spoke about the Iranian regime’s mismanagement of the economic situation. This is not the first time they have mentioned that regime officials are taking the people’s money and using it to line their own pockets. They have also spoken extensively about the corruption that is apparent at all levels of the regime.

On 23rd July, Iran media outlets reported that almost one hundred members of parliament are calling for the Minister of the Economy Massoud Karbasian to be impeached. One member of parliament had said that President Hassan Rouhani and Foreign Minister Mohammad Javad Zarif are “personally responsible” for the economy crisis in the country. The MP recalled that the President and the Foreign Minister had both given their assurances that the economic problems would be resolved in six months.

The regime officials are passing the blame around and skirting all responsibility. A member of the Parliament’s Planning and Budget Committee said that the whole economic team of the current administration is to blame.

Yesterday, parliament tabled a motion to start an investigation into the foreign currencies that were allocated to some companies at a lower rate. Vice-President Eshaq Jahangiri introduced the rate a couple of months ago, naming it the “unique government rate”. This meant that dozens of companies with links to regime officials were able to allocate funds to the purchasing of luxury cars. These funds were supposed to be spent on essential commodities.

Around 12.5 billion dollars were allocated this way and some are calling for an investigation to be launched.

Since the war of words at the weekend between President Rouhani and President Trump, the gold markets and foreign currency markets have been affected. The standard gold coin price increased to 34,810,000 rials (delivery 2019). Older mints are trading at over 32,000,000 rials.

However, the Iranian regime has prevented the country’s media outlets from reporting about the rate of exchange of U.S. dollars.

In other news, a spokesperson for the country’s judiciary said that five officials from the Industry Ministry had been arrested for “coordinated corruption”. He said that they had also been accused of mishandling funds that went to importing thousands of luxury cars.

The people of Iran are no strangers to such stories of corruption. The regime has been diverting funds, circumventing sanctions, plundering the people’s money, plundering the natural resources and pocketing what it can for decades. This is just one of the reasons that the people in Iran are calling for regime change.

Reform is never going to happen with the current regime. Western leaders have been promising it for years, but it will never happen because it goes against the fundamental values of the regime.

Source » ncr-iran

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