Citing World Bank figures on a huge GDP fall 2017-20, Gholam-Hossein Shafei has said the government needs to revise policies to stimulate competition and encourage investment.
22 hours 45 min ago
Chair of the chamber of commerce: subsidized dollar only benefits the rich
Gholamhossein Shafei, the chairman of Iran’s chamber of commerce said the subsidized dollar which is sold at 42000 rials (as opposed to over 130000 current market price) only benefits the rich. He added that many of the goods imported with the subsidized dollar are being exported at higher prices.
While referring to the massive fluctuations in the currency exchange market, he suggested that the reasonable price of the dollar is around 100 to 110000 rials, and said just as 180000 and 190000 rials are not realistic, expecting 50000 and 60000 rials to be the current price of the dollar is also unreasonable.
After a drop in the price of the dollar last week, it has been on the rise again since the beginning of this week.
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