Explosion of Prices in the Currency Market; Value of Subsidies Reduced from $43 to $5

Continuing the upward trend of the US dollar against the Iranian rial, news sources report a reduction in the amount of government subsidies to 'very negligible' figures. The website 'Econogar' reported on Tuesday, April 3, that the exchange rate of the dollar in the free market has exceeded 62,800 tomans, noting that the dollar value of subsidies has decreased from about $43 at the beginning of their disbursement in 2010 to an average of $5 now. According to this website, which covers private sector economic news, the international purchasing power of the 45,500 toman subsidy at the time of its introduction 14 years ago was three times the maximum current subsidy of 400,000 tomans. Inflation has increased to over 40% in recent years, and government support policies have failed to alleviate the economic pressure on the people. Reports indicate that last year the government deposited 27 trillion tomans in cash subsidies monthly into the accounts of the bottom 90% of Iranian society. Recently, the government announced that the third phase of the electronic coupon plan, 'Fajraneh', will begin on April 7. According to the 13th government, in this plan, the '200,000 toman minimum purchase condition from the subsidy' has been removed, and the incentive credit for beneficiaries has increased from 120,000 to 220,000 tomans per person. Some economic experts, recalling the expansion of poverty in Iran in recent years, have assessed the 'advertising' Fajraneh plan as ineffective. Jahangir Laghai, an economist residing in Germany, recently told VOA that the 'advertising' plan to increase the value of the electronic coupon to 220,000 tomans is useless, stating, 'This plan does not solve any problems.' Mohammad Ali Alasti, a sociologist, noted on April 1 in an interview with 'Khabar Online' that livelihood is 'the most pressing concern of the people in the new year.' Livelihood demands have always been raised as one of the main concerns of workers, tradespeople, and retirees in their ongoing protests in recent years. The government announced the implementation of the third phase of the electronic coupon; ILNA: it has no impact on people's livelihoods and is merely promotional. The narrative of the people about protein consumption; the absence of meat on their tables. The intensification of gasoline imbalance in Iran; a record consumption of 152 million liters per day has been registered. A news agency pointed out that with a livelihood basket of 28 million tomans, the lower deciles are left with only eggs.