Iran Minister of Economy was removed from office. On Sunday, Masoud Karbasian, the Minister of Economy was impeached in the parliament. After answering the questions, he failed to receive a vote of confidence and was removed from his position.
Taadol quotes a number of Members of Parliament who believe that the Ministry of Economy had been waylaid in its recent policies: After 26 years, inflation which had occasionally exceeded 40% was put under control and reached single digit figures in 1395. The inflation rate for foodstuffs dropped from 41.7% in 1392 to 8.2% in 1395.
Iran’s standing also improved by 13 places in the Index of Economic Freedom as well as 15 places in the Misery Index. During the Ministry of Mr. Karbasian, the exchange rate for the USD grew from 38000 IRR per 1 USD to 120,000 IRR per 1 USD.
The average price for a square meter of real estate grew by 65% and reached 80 million rials. 10.000 billion rials were added to the nation’s liquidity every day and Iran experienced the highest liquidity in its history at 16 trillion rials.
During his one year as the Minister of Economy, Iran’s business rankings dropped 4 places. During this time, the price of automobiles rose by 50%. The price of gold coins rose from 12 million to over 40 million rials.
People’s purchasing power dropped by at least 50%. The former minister was also asked about his role in the preparation and presentation of the first currency package which resulted in the loss of 9 to 18 billion dollars and 57 tons of gold.
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