Middle East-NO PICS

Iran’s Raisi pledges to tackle inflation

Iranian President Ebrahim Raisi on Sunday set the tackling of galloping inflation and currency devaluation as priorities for the 2023-2024 budget presented to parliament.

The pledge came as the rial touched a new low.

Addressing MPs, Raisi tried to reassure Iranians over the economy which faces a serious crisis due primarily to US sanctions, mainly on oil exports. These were reimposed after Washington’s withdrawal from the Iran nuclear deal in 2018.

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