Next Budget to Cut Wage Earners’ Purchasing Power by 15%

With a 40% inflation rate and a 25% rise in salaries, the purchasing power of wage earners will shrink by 15% in the next fiscal year (starting March 21, 2021), says Feryal Mostofi, a member of Iran Chamber of Commerce, Industries, Mines and Agriculture. 
“The next fiscal year’s budget (March 2021-22) has been set at 24,000 trillion rials ($92.3 billion) whereas the gross domestic product of the country is 32,000 trillion rials ($123.07 billion), which shows that the government budget accounts for 76% of GDP and that the government is in control of three-fourths of the economy,” she was quoted as saying by ILNA.
Mostofi noted that the budget consists of two parts: the general budget and the budget of state companies, banks and for-profit organizations.