Experts Voice Concern Over Iran’s Inflation Outlook

Iran’s economy is not doing well and its prospects are not promising either. Year-on-year inflation rate has increased from 34.7% to 48.1% and the rial’s exchange rate against the US dollar has surged from 262,000 rials to over 360,000 rials in less than a year. 
These tweets were recently posted by the former governor of the Central Bank of Iran, Abdolnasser Hemmati. 
Davoud Souri, an economist, also described the current state of the economy in an editorial for the Persian daily Donya-e-Eqtesad.
“The inflation rate of 48.1% simply means that last year, almost half of the work and money of every Iranian has been taken covertly from their pocket by the government, in addition to the taxes and duties collected directly,” Souri said.
“We say the government because inflation is nothing but the outcome of the monetary and financial policies of the government. We say covertly because the government did not ask for the permission of the owner of the property, i.e., the people.”