Iran Chamber of Commerce Probes Inflationary Effects of Budget

The Research Center of Iran Chamber of Commerce, Industries, Mines and Agriculture has assessed the fiscal 2022-23 Budget Law and its impact on the business environment in a report. 
Its assessment shows the elimination of import subsidies, a rise in foreign currency rate based on which customs duties are calculated, wage increase and energy price hike for the manufacturing sector will make the macroeconomic environment of businesses inflationary, the Persian daily Etemad reported. 
The government’s budgetary decisions will burden the economy’s production sector and fuel the flames of inflation and recession, it said.