Iran’s economic crisis has continued to worsen with each passing day, leaving the country’s authorities overwhelmed by economic pressures and facing an explosive society.
Iran’s economic crisis has continued to worsen with each passing day, leaving the country’s authorities overwhelmed by economic pressures and facing an explosive society. Despite having rich resources, the country’s economic maladies are devastating. The official inflation rate in the country is around 50%, and the value of Iran’s national currency continues to decline, while the unemployment rate is high, and people’s purchasing power continues to freefall.
State-affiliated experts and former officials have warned that the consequences of the worsening economic situation could lead to further protests and social upheaval. Economists such as Hossein Marashi and Vahid Shaghaghi have described the high inflation rate as an “earthquake” that has destroyed the country and will continue to do so. Hossein Raghfar, another state-affiliated economist, warned that without serious political determination for economic reforms, there could be deeper and wider crises and protests in the second half of the year.
In a recent speech on April 3, Ebrahim Raisi declared that “eradicating absolute poverty is a must,” promising to take immediate action. However, his previous orders to stop price hikes and eradicate poverty within two weeks had not been fulfilled, leading to skepticism and criticism from experts and state-run news outlets.
In his annual Nowruz address, the regime’s supreme leader, Ali Khamenei, acknowledged the country’s economic crisis but suggested that entrusting control over vital industries and companies to the private sector, a euphemism for the Revolutionary Guards (IRGC), would provide a solution. However, his proposed solution was seen as more plundering, as no private enterprise can attain significant economic clout in Iran without affiliating with the IRGC.
The ruling theocracy in Iran is seen as being bereft of any solution to the country’s economic crisis, as it has either created or exacerbated them. Iranians believe that regime change is the only solution to their problems. Experts warn that if the officials continue their wrong policies, the fire under ashes in society will continue to burn, leading to serious challenges in new and larger dimensions.
The international community has been called upon to endorse the rightful appeal of the Iranian people for regime change and to acknowledge that any inducements offered to the regime to stimulate its economic growth shall merely be ingested by Khamenei and his coterie of IRGC henchmen, thereby exacerbating the country’s fiscal predicament.
In conclusion, the worsening economic situation in Iran has led to a bleak outlook for the country, with experts warning of deeper and wider crises and protests in the second half of the year. The only solution seen by Iranians is regime change, and the international community is being urged to endorse their rightful appeal.
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