Iranian lawmakers on Monday approved the appointment of a new economy minister to tackle mounting economic troubles, including soaring inflation and a plunging currency.
Ali Madanizadeh, 43, was confirmed as Iran’s new economy and finance minister months after his predecessor, Abdolnaser Hemmati, was ousted in a no-confidence vote for failing to address the economic woes.
Madanizadeh received 171 votes in favour, 61 against, and eight abstentions from the lawmakers present in the 290-seat parliament, according to state TV.
Iran’s economy has long been under strain due to sweeping US sanctions, which have fuelled persistent double-digit inflation and surging consumer prices.
Upon returning to office in January, US President Donald Trump revived his “maximum pressure” sanctions campaign on Tehran.