A senior official at Iran Chamber of Commerce voiced support for the government’s new foreign exchange policies, including scrapping preferential rates for basic goods and redirecting subsidies directly to consumers, saying the reforms could improve transparency and curb corruption in the long run.
Abolfazl Roghani Golpayegani, secretary general of Iran Chamber of Commerce, Industries, Mines and Agriculture, told state news agency IRNA that the private sector’s main demand was a freer economy.
Allocating subsidized foreign currency had led to mandatory pricing and market distortions, he said, adding that while the reforms could involve a painful adjustment period, they would ultimately lead to better and more stable conditions.
Roghani said the government had taken a “brave and correct” decision on currency policy but should have put stronger safeguards in place for lower-income groups ahead of the move.
He said the gap between subsidized and market exchange rates had fueled corruption, which the government was right to eliminate, while cautioning against the creation of new rents or inflationary pressures.
He added that currency liberalization should have been implemented 20 years ago and argued that economic reform would be difficult without stronger political and economic diplomacy.
“We cannot expect the economy to recover while being at odds with the world or under the shadow of war,” Roghani said, stressing that social and economic security and public confidence were prerequisites for successful reform.