Iraq News - Local News - Baghdadpost

70% of factories in Iran closes due to economic situation: official

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Iran's economic crisis has led to the closure of 70 percent of factories, former presidential candidate and current member of Iran's Expediency Discernment Council of the System Mustafa Salim said.

Salim criticized the spread of corruption and favoritism and the lack of appointing people with competencies in ministries.

He said in a press statement that nearly 70 percent of factories, workshops and mines in Iran are closed or bankrupt due to the deteriorating economic situation.

Salim commented on the dismissal of the minister of industry, saying that the main part of the industrial activities in the country is under the auspices of the Ministry of Industries and Mines.

Pressure on President Hassan Rouhani's government is mounting due to the collapse of the Iranian rial. Officials said the purchasing power of workers has dropped by 90 percent in the past six months.

Food prices have risen between 50 percent and 100 percent, according to official figures, prompting the government to consider distributing 10 million ration cards worth $7 per month to citizens, a procedure that has been criticized as insufficient and does not solve the crisis.


Last Modified: Friday، 26 October 2018 12:39 AM