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Iran News: Regime’s Parliament Grapples with Soaring Currency Crisis

majlis
File Photo: A scene of the Iranian regime’s so-called parliament

The Iranian regime’s parliament, known as the Majlis, is witnessing tumultuous debates and rising concerns over the ongoing economic crisis as the value of the Iranian rial continues to plummet against major currencies.

Following a significant drop in the value of the rial on Sunday, April 7, the US dollar surged to a staggering 65,850 tomans (with one toman equivalent to 10 rials), prompting heightened anxiety among both lawmakers and the public. State-run newspaper “Setareh Sobh” published an article titled “Release the Dollar Brake” on Saturday, highlighting the persistent upward trend in the dollar’s value since the Nowruz holidays.

The sharp depreciation of the rial, coupled with soaring prices and growing public anger, has fueled intense debates within the Majlis, with members trying to dodge responsibility and shifting the blame on the government over the economic turmoil that can lead to the regime’s instability.

Abbas Goudarzi, a member of the Majlis, said on April 7, “Inflation must be curbed. The increase in the price of currency, housing, and people’s livelihoods has truly become problematic. The president and relevant ministers should come to parliament and respond. Let’s see who is responsible for inflation in my country. Parliament must know whom to hold accountable… Today, we are witnessing an abandonment in prices and the market. We don’t know whom to address our problems to.”

Hossein-Ali Haji-Deligani, another member of the Majlis, also said, “The current situation with currency and the exchange rate prevailing in the country is affecting people’s lives in various ways and has, in a sense, put everyone under pressure. Now, I don’t know what discussions have or have not taken place regarding this matter in those meetings of the heads of the three branches but ultimately, the public is questioning. Immediately after the twelfth parliamentary elections, these events are unfolding. I request that at least one session, in whatever manner you deem appropriate, be called for the Central Bank Governor at the earliest opportunity. Because if we don’t have currency, how are they managing squandering the nation’s wealth? And if we do have currency, what is the current state of prices?”

Meanwhile, discussions are underway regarding potential fuel price hikes, with MP Ahmad Alirezabeygi suggesting that given the current exchange rate, the government may have no choice but to increase gasoline prices.

Alirezabeygi said, “Statistics released by the government indicate that statistical analysis is being conducted. Because if there has been any growth and progress in the economic sector, it should reflect an improvement in the quality of life for the people. However, in reality, this has not occurred.”