Iran offers citizens $7 monthly payments as protests spiral over economic crisis: report

Iran’s government has said its citizens will be given a monthly payment equivalent to about $7 to ease economic pressures as protests spread across the country, according to reports.

The announcement was reported to have been made on Monday by the government spokesperson, Fatemeh Mohajerani, on Iranian State TV.

She said the measure was aimed at “preserving households” purchasing power, controlling inflation and ensuring food security,” per The New York Times.

The outlet also said the plan represents a shift away from long-standing import subsidies toward direct assistance for citizens.

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Under the proposal, roughly $10 billion that had been spent each year to subsidize certain imports, will now be given directly to the public.

Eligible Iranians will get one million Iranian tomans, which is around $7, and in the form of credit that can be used to buy goods.

The labor minister said the payments would be handed out to about 80 million people, which is the majority of Iran’s population.

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Iran’s economy has been hit by sanctions and declining oil revenues which have led to protests.

The currency has lost more than half its value against the U.S. dollar.

The Statistical Center of Iran, a state-run body under Iran’s regime, reported in December that the average annual inflation rate also reached 42.2%, according to reports.