Former Iranian Minister: The Sanctions Expose the Fundamental Problems of Our Economy

Mehdi Ghazanfari, Iran’s former Minister of Industry, Mining, and Trade, said in an August 4, 2019 interview on Ofogh TV (Iran) that the Iranian government has in the past used foreign currency to “sweep” its economic dysfunction “under the rug.”…

Former Iranian Minister: The Sanctions Expose the Fundamental Problems of Our Economy

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Mehdi Ghazanfari, Iran’s former Minister of Industry, Mining, and Trade, said in an August 4, 2019 interview on Ofogh TV (Iran) that the Iranian government has in the past used foreign currency to “sweep” its economic dysfunction “under the rug.” He explained that the economic problems have manifested themselves in devaluation of Iran’s currency, and he said that Iran is fortunate to be subject to sanctions because the isolation from foreign currency exposes Iran’s economic mistakes, such as printing money despite a stagnant GDP. Ghazanfari said that Iran’s bad economic practices will continue if Iran continues to be run the way it is.

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