Saturday, June 22, 2024

Economist claims Iran inflation under Raisi set new record high since WWII

An Iranian economist criticizes President Ebrahim Raisi’s handling of the country’s economic issues, claiming that the inflation set a record high in eight decades under his administration.

Saed Leylaz, also a journalist and advisor to former president Mohammad Khatami, said, in an interview with Ham-Mihan newspaper, that the inflation rate surpassed 50% in the past Persian calendar year (ended 20 March, 2023), the highest in 80 years.

The inflation rate, he added, “has broken the historical record of inflation after World War II.”

Leylaz accused the administration of having “manipulated” the figures of the inflate rate in the middle of the fiscal year to protect its image, describing the alleged conduct as “morally wrong.”

The Raisi administration says it has set the tackling of inflation and currency devaluation in Iran as priorities for the 2023-2024 budget presented to the Parliament.

Iran’s economy has been subject to draconian sanctions imposed by the US and other Western states.

President Rasi has placed a ‘look-to-the-East’ policy high on its agenda to offset the bans, and has been pushing to promote relations with neighbors, allied countries and Muslim states to that effect.

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