President Raeisi pledges to tackle inflation

Iranian Parliament approves budget bill outlines


Iranian President Ebrahim Raeisi on Sunday set the tackling of inflation and currency devaluation as priorities for the 2023-24 budget presented to Parliament.

“Transparency, improving people’s livelihoods… controlling inflation and costs and supporting the stock market” are the budget priorities for the year starting on March 21, Raeisi said, AFP reported.

“Know that the prices of (foreign) currencies and gold, as well as the prices of many expensive things in the country will decrease,” the president promised.

“The enemy is trying to impose difficult conditions and despair on the people” but “the government and Parliament must give people hope,” Raeisi said.

He assured that the government has “a short- and long-term strategy” to support activity in the sectors of housing, health, food and transport.

Parliament on Sunday approved the budget outlines which relied on projected exports of 1.4 million barrels of crude per day at an average price of $85 per barrel, official news agency IRNA reported.