Iran Economy NewsIran’s Regime a Specialist in National Wealth Devastation

Iran’s Regime a Specialist in National Wealth Devastation

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Under the rule of the Iranian regime, national wealth and the people’s capital have been squandered. Without any regard for the country’s future and progress, the regime has wasted more than four decades of the country’s resources, and they are not ashamed of constantly insulting the Iranian people with their voracious and shameless appetite.

Alireza Erafi, the director of the seminaries in Qom, said in an interview, “I used to say in the Al-Mustafa University that if you want to lend money to a seminary student, put an amount where there is no accounting, and the seminary students are free to take whatever they want and then return it.”

He added, “Even if an amount is lost, there is no problem, but it is worthwhile to strengthen that sense of freedom of choice and return of the loan by the student without any external factors. This gives him a personality that is above all these professions and makes the seminary spiritual and moral.”

These shameless remarks have caused a public backlash, and some have questioned whether, after 43 years of ‘stealing’ and ‘wasting national wealth’, there is still any money left to those scholars and mullahs should have free access?

This report addresses some aspects of the plundering of the resource and its effects on the Iranian economy.

The Iranian regime rules a country that, according to credible reports, possesses eight percent of the world’s natural resources, and almost all elements of the Mendeleev table can be found in abundance in this land.

However, the ‘Iranian Welfare Information’ database, affiliated with the regime’s Ministry of Labor and Social Welfare, reported on April 4 that 93 percent of Iranian households are dependent on subsidies, of which 35 percent are poor, 57 percent are from the middle class and eight percent are considered rich, of them are in the ranks of the regime’s elite and supporters.

According to the report, a statistical study by the Deputy of Social Welfare in the Ministry of Cooperatives, Labor and Social Welfare, shows that 77.4 million people need the support of subsidies to be able to manage their livelihoods. Of this figure, 27,103 million people live in poverty.

The existence of a large bureaucratic apparatus and numerous religious institutions that do not provide any public services are among the reasons for wasting Iran’s financial resources.

Economic corruption is another cause of the destruction of national wealth. As Transparency International recently announced, Iran currently ranks 150th out of 180 countries in terms of the corruption perception index.

Statistics released by the regime’s Ministry of Economy and Finance show that the regime had sold over 1,370 trillion dollars of oil by the end of 2017. A large sum with which any country could rise from its ashes and join the club of the developed countries, but because of the regime’s economic destruction, Iran is not even among the developing countries. The only subject that is developed in Iran, is inflation, high unemployment, low economic growth, stagnation, stagflation, etc.

After former regime president Mahmoud Ahmadinejad took office, the price of oil rose to $140 a barrel. During his eight-year tenure, Iran is said to have generated more than $700 billion in oil revenues. But contrary to Ahmadinejad’s claims, not a single dollar of this huge income was seen on the people’s table.

After Mahmoud Ahmadinejad’s term, Hassan Rouhani signed the 2015 nuclear deal with 5+1 known as the JCPOA, which freed up about $150 billion in frozen regime assets in various countries. But again, nothing of this enormous wealth reached the people.

The regime situation is so disastrous that instead of supporting the people, it is fleecing them more and more and compensating its budget deficit from their pockets. An example of this claim can be seen in the stock market where, according to many regime officials and experts, the Rouhani government earned three quadrillion rials from the people’s assets and investments.

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