Mojtaba Khamenei urges shift away from dollar

Iran’s Supreme Leader Mojtaba Khamenei has called for greater reliance on domestic production to address the country’s economic challenges, while urging a gradual reduction in the US dollar’s role in the economy. In a message marking Government Week, Khamenei called on the government to give “serious attention” to interconnected economic and livelihood concerns, including inflation, unemployment, price controls and the regulation of goods and services markets. He also urged authorities to promote economic growth, increase investment and direct funds towards productive and essential sectors, while stimulating domestic production and placing “resistance economy” policies at the centre of the government’s economic agenda. “The main key to resolving all these issues lies in relying increasingly on domestic production, ” he said. Khamenei stressed the importance of maintaining adequate supplies of essential and specialised goods, while calling for imports to be used “properly and wisely” when domestic production cannot meet demand. He said encouraging domestic production alongside effective management of imports and prices could gradually eliminate what he described as “dark spots” in Iran’s economy. The comments come as Iran’s currency has plunged to a record low against the US dollar. The rial fell below 2 million rials per dollar on the free market this week as Washington imposed additional sanctions targeting the Iranian economy. Khamenei also called for greater use of technologies and innovations developed by young Iranian experts and elites, saying their timely application could help accelerate progress in agriculture, industry, communications, education and other sectors. He said improved management, greater involvement of specialists and technology experts, and the activation of new economic capacities could help put Iran on a path towards sustained growth and development. The supreme leader also praised the government’s response during the war, highlighting efforts to maintain supplies of essential goods and services, repair damaged infrastructure and manage energy resources despite intensified sanctions and blockades.

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