Iran president defends economic performance before MPs

Iranian President Hassan Rouhani on Tuesday attempted to defend his government’s economic performance before parliament, according to reports on Iranian state television.

Rouhani answered five economy-related questions posed by lawmakers on U.S. sanctions, unemployment, and the devaluation of the Iranian rial.

The president defended his government’s performance, attributing the country’s economic difficulties to the recent re-imposition of U.S. sanctions.

While lawmakers expressed satisfaction with one of Rouhani’s answers (that pertaining to sanctions on the local banking sector), they voiced dissatisfaction with the remaining four, the subjects of which will be referred to judicial authorities for investigation.

The findings of this investigation will then be referred back to parliament, which will then decide whether or not to register confidence in Rouhani’s government.

In recent months, Iran has seen steady declines in several economic indicators amid sporadic popular protests against mounting unemployment and deteriorating living conditions.

Earlier this month, the U.S. re-imposed sanctions on Iran after withdrawing in May from a landmark nuclear deal with the P5 1 group of nations (the five permanent UN Security Council members plus Germany).

The sanctions are intended to hinder Tehran's acquisition of U.S. currency; its precious metals trade; bank transactions denominated in Iranian currency; activities related to Iran's sovereign debt; and the country’s automotive sector.