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Iran’s Economic Woes Amplify: Crisis Deepens

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Iran’s national currency, the rial, continues to be in free fall. On Monday, a dollar was traded for  631,000 rials (63,100 tomans) in the free market. Along with the country’s rising inflation and high prices, this rapid plummet of the rial’s value has even forced the regime’s Supreme Leader, Ali Khamenei, to acknowledge the crisis.

With his real concern being the reaction of an explosive society, Khamenei spoke about the “bitter realities of the country’s economy,” in his speech on April 3.

Yet, he blatantly spoke of the “sweet parts of the economy, which is due to the developing infrastructural works,” claiming that they will “show positive results in the short term.”

Yet, what statistics show and according to regime officials, Iran’s economic crunch is far worse than it looks.

“We stress that should the counsel of experts and sympathizers go unheeded, we may inevitably witness the depreciation of the rialto the extent of a million against the dollar. This negligence portends dire consequences: essential commodities will surge in price, rendering them increasingly unattainable for the populace. Such a predicament will undoubtedly shock everyone, except for those who bear responsibility and must be held to account,” said Ali Rezai, a member of the regime’s parliament on April 8.

“The rising prices of gold and currency have undermined people’s lives across the country. It seems that the car of high-prices has no brakes,” said Hossein-Ali Haji-Deligani, a member of the regime’s parliament on April 7.

“The initial stride toward resolving the issue necessitates confronting reality, devoid of illusions. Economic growth has nearly ground to a halt, with the foundations faltering. Over the past decade, capital accumulation within the nation has markedly declined, plummeting by approximately 40%,” wrote the state-run Jahan-e Sanat daily on April 4.

“Consequently, brain drain has ensued amidst such circumstances. Hence, the sole catalyst capable of fostering short-term growth within the country lies in oil. Should the current trajectory persist, the forthcoming decade may not only witness stagnation but also the possibility of negative economic growth,” the outlet adds.

In his annual Nowruz speech, Khamenei accused the “enemy,” of trying to portray an “economic collapse.” Yet, a few days later, he has to acknowledge the “bitter taste” of Iran’s economic woes.

These woes are mostly due to his regime’s systematic corruption and squandering of people’s wealth on warmongering and terrorism. The “head of the snake” in Tehran instigated the war in Gaza, creating the most tragic humanitarian crisis, in a bid to export chaos abroad.

For eight years, the regime’s founder, Ruhollah Khomeini, dragged the Iran-Iraq war, describing it as a “divine blessing.”

Thus, given the exacerbating internal crisis, including the country’s economic crunch, it is easier to understand why Khamenei has become this concerned about the fate of people in Gaza and sheds crocodile tears for them!

Yet, recent attacks in Syria, killing the regime’s top commanders, once again showed that the world is now realizing where the heart of Islamic Fundamentalism beats. Thus, Khamenei’s dangerous gamble seems to have ominous results for him.

In addition, the increasing operations by the defiant youth inside Iran against the regime’s centers of oppression, coupled with the ongoing protests by people from different walks of life, have terrified Khamenei and his regime of a looming uprising.

Thus, as time elapses, this question remains on the table: How would Khamenei manage his regime amid all these crises?