Iranian President Masoud Pezeshkian has taken a firm stance in response to recent protests in Tehran, promising to safeguard the purchasing power of Iranian citizens as the national currency continues to plummet. The Iranian rial has reached record lows against the US dollar, triggering demonstrations that began early this week, with shopkeepers closing their businesses to voice their grievances about economic hardships.
Pezeshkian acknowledged the legitimacy of the protesters’ demands through a social media post and stressed the importance of government responsiveness to the economic crisis. He directed the Minister of the Interior to engage in dialogue with representatives of the demonstrators to address their concerns effectively. He emphasized that the livelihood of the people remains a top priority and assured that the government is preparing significant reform actions in the monetary and banking systems.
The protests, which began on Sunday, have been particularly concentrated in areas like Tehran’s Grand Bazaar and tech centers, where shopkeepers united to express their frustrations. Demonstrators chanted unifying slogans while facing off against security forces, which deployed tear gas in an attempt to disperse the crowds.
Compounding the challenges faced by the Iranian population, the country is grappling with high inflation rates approximating 50 percent, one of the highest in the world. A controversial budget bill proposes a staggering 62 percent increase in taxes, further straining citizens’ already diminished financial resources. Alongside economic quandaries, Iran is also dealing with a worsening energy crisis exacerbated by severe water shortages, as many major dams remain dangerously low.
The backdrop of these protests includes ongoing pressures from the US, Israel, and their allies concerning Iran’s nuclear program, following a violent conflict earlier this year that resulted in significant casualties. The protests also bear historical weight, as they follow recent nationwide demonstrations sparked by the death of Mahsa Amini in police custody last year—an event that ignited significant civil unrest.
Despite these dire circumstances, Pezeshkian’s commitment to address economic instability reflects a potential pathway towards dialogue and reform. As the government grapples with these pressing issues, the hope remains that constructive actions may alleviate tensions and restore some degree of economic stability for the Iranian people.