Thousands of Iranians continued to flood the streets Tuesday in the country’s largest protest over the crumbling economy – after the announcement of a minuscule stimulus payment only fanned the flames.
The raucous nationwide demonstrations carried on for the 10th day after government officials announced Monday that about 80 million eligible citizens will receive 10 million Iranian rials a month — worth about $7.70 at real exchange rates.
Government spokeswoman Fatemeh Monajerani, who announced the handout on state TV, said the meager aid will be delivered through direct deposit as a credit that can be used for basic home necessities to help “reduce the economic pressure on the people.”
At least 36 people — including 34 protesters and two members of Iran’s security forces — have been killed during the escalating unrest, with another more than 1,200 detained, according to the Human Rights Activists News Agency.
More than 60 have been injured in the turmoil, the agency reported.
The stimulus plan, which will redirect roughly $10 billion previously spent annually on subsidizing certain imports, also aims to relieve inflation and help families afford food as costs soar, the New York Times reported.
But experts say the puny subsidy will barely help most Iranians, whose essential needs top $200 a month.
“It’s a small amount for the middle class and will not meaningfully improve their standard of living, but it will definitely improve the situation for the poorest quintile,” Esfandyar Batmanghelidj, founder of the Bourse & Bazaar Foundation in England, told the outlet.
“The government clearly thinks it can afford to do this. But what they can afford is not enough to alleviate the pressures most Iranians are facing.”
Iran’s currency, the rial, was trading at a record low 1.46 million to a dollar on Tuesday. In 2002, the rial was trading at around 430,000 to the dollar.
Meanwhile, prices for food and other necessities have also skyrocketed with the inflation rate sharply rising to at least 42.2% compared to a similar time period last year.
New sanctions from the United Nations were also slapped on Iran in September, which further threw the country into economic despair.
Heated rallies – largely led by traders, shopkeepers and university students – erupted on Dec. 28 in Tehran and spread to dozens of cities over the nation’s battered economy, which has made life unaffordable for many amid a collapsing currency and soaring inflation.
Fiery protests calling for the ouster of 86-year-old Supreme Leader Ali Khamenei have turned fierce, with police on some occasions firing tear gas or plastic bullets into crowds to break up the demonstrations.
President Trump on Friday proclaimed the US is “locked and loaded” to help protesters in Iran.
“If Iran shots [sic] and violently kills peaceful protesters, which is their custom, the United States of America will come to their rescue,”
“We are locked and loaded and ready to go,” the president added, without elaborating.
The roiling rallies are the biggest since the 22-year-old Mahsa Jina Amini died in police custody after the country’s morality police accused her of not wearing her hijab properly and arresting her.
With Post wires.
