Domestic Economy

Economic Ship Facing Frightful Whirlpool

Economic Ship Facing Frightful Whirlpool
Economic Ship Facing Frightful Whirlpool

A group of economists wrote about Iran’s economic woes in an open letter published recently and suggested ways of improving the situation, Hossein Haqgou, an economist, prefaced his write-up for the Persian daily Shargh with this note. A translation of the text follows:
Institutional economists have warned about the government’s recent policy, the so-called “economic surgery”, the elimination of subsidized foreign currency and its consequences in their letter. 
They believe the success of this policy depends on lending support to the financially-vulnerable people, ensuring sufficient oil and non-oil revenues and supplying foreign currency to control probable fluctuations; drawing up clear and efficient policies to stabilize macroeconomic conditions by controlling inflationary factors and the budget; having access to global markets, including that of essential goods, as well as allocating resources for financing, if necessary.


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