The Iranian government says it is providing subsidized foreign currency to importers and producers of medicines to prevent the rise in prices, as the value of rial has taken a nosedive.
“The Health Ministry, the Central Bank of Iran, Ministry of Industries, Mining and Trade and the Islamic Republic of Iran Customs Administration have been working hard to supply importers with foreign currency at the lower price of 42,000 rials,” Health Minister Hassan Qazizadeh Hashemi said.
The dollar is now being traded at above 13,000, as per Sanarate.ir.
The Iranian pharmaceutical market is under the psychological impact of forex rate swings, which intensified after the US administration’s unilateral withdrawal from the nuclear deal.
The first round of sanctions has already been reinstated.
September 16, 2018 18:58
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Iran Gov’t Struggles to Put Pharma Market in Order
According to Health Minister Hassan Qazizadeh Hashemi, about 70% of essential medicines for next year have been purchased, whereas reports from major drugstores show patients are facing difficulties in finding the medicines they need
The health minister confirmed that prices of medicines have increased by 9% on average in the past few months
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