Page 6 - IRANRptSep18

The supreme leader also called on the Iranian government to work "day and night" to resolve the country's growing economic difficulties .
The Iranian rial has lost more than half its value against the dollar in recent months, some external reports claim inflation has risen past 200% a nd many big foreign companies that were present in Iran, including European enterprises, have made for the exit. Most would have been clearly exposed to US secondary sanctions if they had stayed given connections to US financial markets, including capital raising activities, and assets.
2.2 Rouhani appears in Iranian parliament to explain government shortcomings in addressing economic turmoil
Iran’s President Hassan Rouhani on August 28 appeared before MPs who summoned him to explain government shortcomings in fighting the financial turmoil that has enveloped the country since the US went back on the economic offensive by reimposing heavy sanctions.
It was a far from easy ride for Rouhani. He tried to inspire unity among centrists, moderate conservatives and hardliners by declaring that Iran would show "this bunch of anti-Iranian officials in the White House" that their measures would fail to reach their goal—namely strangling Iran’s economy to a degree where Tehran would have no choice but to renegotiate its role in the Middle East—but the lawmakers were not entirely convinced by his answers and referred all the issues bar one to the judiciary.
The MPs were satisfied by Rouhani’s explanation as to why Iranian banks still had only limited access to global financial services. But they were dissatisfied by his answers on the nosediving Iranian rial (IRR), high unemployment of 12.5%, soaring prices and why there had been a lack of financial reforms. The lawmakers also pressed him on poor economic growth and the country’s inability to put an end to rampant cross-border smuggling operations.
Rouhani, a pragmatist and centrist, appeared just days after Masoud Karbasian was ousted as economy minister by a parliamentary vote. Such a vote also caused the removal of the labour minister earlier in August, while mounting criticism prompted the president to replace the central bank governor in July.
"The economic problems are critical, but more important than that is that many people have lost their faith in the future of the Islamic Republic and are in doubt about its power," Rouhani said in his speech in parliament, broadcast live on state television.
"We are not afraid of America or the economic problems," he added. "We will overcome the troubles... I want to assure the Iranian nation that we will not allow the US plot against the Islamic Republic to succeed."
Rouhani also informed the lawmakers that the Islamic Revolutionary Guards Corps (IRGC) had been called in to help crack down on the smuggling.
The parliament has the power to impeach the president, but Supreme Leader
6 IRAN Country Report September 2018 www.intellinews.com