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The governor of the Central Bank of Iran exposes the failure of the mullahs to lower prices
The governor of the Central Bank of Iran, Abdul Nasser Hamati, on Saturday blamed the government of the head of the mullahs' regime, Hassan Rowhani, for not taking control of the prices of basic commodities.
"Import subsidies set by the government in April last year failed to keep prices low," Hamati was quoted by state media as saying.
With the depreciation of the Iranian currency last year, the government decided to provide the US dollar at a preferential price of 42,000 riyals to selected importers, in order to keep prices low for the working class.
The dollar currently trades more than 130,000 riyals on the open market in Iran.
Last year, the government spent about $ 25 billion of its oil income in exchange for these subsidies. In 2019, the government plans to allocate only $ 14 billion to support food and medicine imports because of its low oil income.
US sanctions on Iranian trade, especially oil exports last November, have cut exports by half, and low oil prices have not helped Tehran in the process.
The Government and the Parliament are considering other ways of providing affordable goods, including the distribution of special coupons to people to receive a limited amount of food at lower prices.
In recent months, food prices have risen sharply, with meat prices quadrupling, and monthly inflation in various sectors has raised rates of concern for officials.
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