Iran's Raisi pledges to tackle inflation
Iranian President Ebrahim Raisi set the tackling of galloping inflation and currency devaluation as priorities for the 2023-2024 budget presented to parliament.
The pledge came as the rial touched a new low.
Addressing MPs, Raisi tried to reassure Iranians over the economy which faces a serious crisis due primarily to US sanctions, mainly on oil exports. These were reimposed after Washington's withdrawal from the Iran nuclear deal in 2018.
"Transparency, improving people's livelihoods... controlling inflation and costs and supporting the stock market" are the budget priorities for the year starting on March 21, Raisi said.
"The enemy is trying to impose difficult conditions and despair on the people" but "the government and parliament must give people hope," Raisi said.
He assured that the government has "a short and long-term strategy" to support activity in the sectors of housing, health, food and transport.
At the end of December, the governor of the central bank resigned after the rial lost around 30 percent of its value in two months, falling from 330,000 to 430,000 per US dollar.
"Know that the prices of (foreign) currencies and gold, as well as the prices of many expensive things in the country will decrease," the president promised, without explaining in detail the strategy of the government to achieve this.
The national currency traded at around 450,000 rials per dollar, a new all-time low.
