NCRI – Soaring inflation in Iran means three-quarters of the population are struggling to meet their basic needs, remarks by an official of Iranian regime has revealed.
The regime’s policy of pumping cash into the economy had set prices rocketing and devalued the currency, the head of Tehran’s Chamber of Commerce Yahya Al-Ishaq said.
He told the state-run Fars news agency that instead of investing in jobs and production, the regime simply handed out cash – a policy called a ‘distributive economy’.
According to Iranian economic experts, the amount of cash supply has increased seven-fold during Ahmadinejad’s time in office, he said.
But this had lead to an unprecedented rise in the money supply and an unprecedented fall in the currency value and people’s purchasing power.
Al-Ishaq added: “By choosing a distributive economy instead of increasing production and employment, expenditure has increased, and people are coming under increasing pressure.”
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