Iran Should Help People Cope With Economic Duress, Etemaad Says

Iranian Parliamentary Speaker Ali Larijani said government officials should take steps to offset economic hardships, Etemaad newspaper reported.

Iranians are struggling with inflation and unemployment, Larijani said. “It isn’t in the nation’s interest for people to endure more economic pressure,” he said, according to Etemaad.

Iran’s rial has lost as much as 40 percent of its value against the U.S. dollar on the street market and costs have soared as a result of tighter U.S. and European Union sanctions.

“Even at a time of sanctions, if we use all the existing skills and aim for local production certainly inflation will lessen and jobs will be created,” he told a rally in the central city of Natanz, according to the Tehran-based newspaper.

Iranians will elect a new president in June and Mahmoud Ahmadinejad is ineligible for a third consecutive term. Larijani, who has been critical of the president’s policies, is seen as a potential candidate in the race.

To contact the reporter on this story: Ladane Nasseri in Dubai at lnasseri@bloomberg.net

To contact the editor responsible for this story: Andrew J. Barden at barden@bloomberg.net

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.