Friday, May 24, 2024

Reoort: Raisi’s administration sets inflation record

Iran’s Ham-Mihan newspaper says the country has experienced its highest inflation in 80 years during the administration of President Ebrahim Raisi’s tenure.

In a report, Ham Mihan said exactly a year ago, namely in May 2023, Raisi instructed government officials in 10 paragraphs to curb inflation and increase production.

According to the report, the inflation rates Iran has experienced during Raisi’s tenure has been the highest since 1943.

Previously, the administration of former president Akbar Hashemi Rafsanjani held the record of highest inflation with a 49.4% rate.

The high inflation of the years 1942 and 1943 in Iran was blamed on World War Two and the occupation of Iran by the allied forces.

The figures about the inflation are published by the Central Bank of Iran.

Raisi has been repeatedly criticized by citizens, media and former officials for its handling of the economy.

His critics say Raisi mistakenly thinks economic problems can be resolved through issuing orders, which is not the case.

But the Raisi administration says it has managed to contain the rising inflation and the downward spiral of the rial against foreign currencies.

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