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Iranian Economists Call for Structural Change in Economy

Iran's Economy

The Iranian government under Mahmoud Ahmadinejad had managed to apply structural changes in the nation’s economy for different reasons. As Iran was badly suffering from the negative impacts of international sanctions, President Mahmoud Ahmadinejad was forced to run plans to enhance the conditions inside the country.

According to Ghasem Yasrebi, an Iranian economist, the new government of Iran should completely update the economic system of Islamic Republic. Currently, oil and gas exports account for the main revenue sources for the Iranian government.

“I firmly believe that Iran’s current economic system doesn’t work anymore, so the Iranian government should employ new economic structures. By recruiting top economists and advisors, President Hassan Rouhani can reinvent the economy of Iran.” Ghasem Yasrebi informed the Herald Boy.

During the recent years, international sanctions on Iran’s economy dropped the oil revenues dramatically. This has directly affected various sectors of the country negatively.

“Based on the past experiences, the Iranian government should take action with regard to structural changes in local economy. For instance, the government should stop pursuing the existing subsidy reform plan, as this plan doesn’t comply with the economic systems of Iran.” Yasrebi continued.

Mahmoud Ahmadinejad was blamed for running subsidy reform plan inappropriately, which led to worse inflation rates in the country. According to the government, approximately $100 billion per year is spent on subsidizing energy prices. The government has described the subsidy plan as the ‘biggest surgery’ to the nation’s economy.

“In my opinion, the second phase of this plan should not take into action. Unfortunately the former government ignored warnings issued by economists with regard to carrying out the subsidy reform plan.” Ghasem Yasrebi added.

The Iranian scholar also called for changes in other economic sectors. “Banking systems are in need of massive changes. The recent embezzlements prove the inefficiency of the common structure of banking systems in Iran.” Yasrebi concluded.

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