Iranian lawmakers on Monday approved the appointment of a new economy minister to tackle mounting economic troubles, including soaring inflation and a plunging currency.
Gatekeepers News reports that Ali Madanizadeh, 43, was confirmed as Iran’s new economy and finance minister months after his predecessor, Abdolnaser Hemmati, was ousted in a no-confidence vote for failing to address the economic woes.
Madanizadeh received 171 votes in favour, 61 against, and eight abstentions from the lawmakers present in the 290-seat parliament, according to state TV.
Iran’s economy has long been under strain due to sweeping US sanctions, which have fuelled persistent double-digit inflation and surging consumer prices.
Upon returning to office in January, US President Donald Trump revived his “maximum pressure” sanctions campaign on Tehran.
The economic crisis now coincides with a dramatic escalation in regional conflict.
Since Friday, Israel has launched large-scale strikes on Iran, targeting military bases, nuclear sites and residential areas across the country.
The attacks have killed at least 224 people in the Islamic Republic, including top military commanders, nuclear scientists and civilians.
Iran has retaliated with barrages of drones and missiles that have killed at least 24 people in Israel, according to the latest figures from the prime minister’s office.
Iran does not recognise Israel and has long accused it of carrying out sabotage operations against its nuclear facilities, as well as assassinating its scientists.
AFP
