Reported by PMOI/MEK
Iran, July 29, 2018 – Latest reports from Iran indicate the country’s currency, the rial, is trading at 110,000 for each United States dollar. This shows the national currency has dropped 120 percent in value during the past six months alone.
“Inflation will increase 20 to 50 percent prior to March 2019,” said Vahid Shaghaghi, an economist linked to the Iranian regime.
Internal factors such as massive corruption amongst the regime elements are said to be the major drive behind the economic crisis in Iran.
“The dollar price increase brings in revenue for the government. Although the government is not willing to accept this reality,” said former commerce minister Yahiya Al Eshagh to state media.
The entire economy in Iran is controlled by a corrupt regime and the Revolutionary Guards, while the Iranian people are hostages of this enormously dangerous status quo.
Considering the nosediving value of Iran’s currency, low wages and paychecks failing to increase in line with inflation and skyrocketing prices, the Iranian people are losing their purchasing power and families are suffering severely.
When a country’s currency falls over 50 percent in value, it means the entire population suffers as the money in their bank accounts and paychecks lose their value. The first victims are ordinary people as regime officials and their families are weathering the conditions through their corrupt links.
