The cost of Iran’s 11-item basic food basket has surged 68% since the launch of its electronic voucher scheme, prompting the Ministry of Cooperatives, Labour and Social Welfare to propose a 20-30% increase in credit for lower-income households. The sixth phase of the programme, which began on 5 June, now covers 87.5 million people, but officials acknowledge that the current allocation no longer preserves the purchasing power it was designed to protect. The proposed rise would be targeted: families under the coverage of welfare bodies such as the Imam Khomeini Relief Foundation and the State Welfare Organisation would receive larger increments, while other deciles would see smaller adjustments or no change.

Tehran is attempting to fund the increase through non-monetary channels to avoid fuelling liquidity and inflation, with joint meetings under way between the budget office, the central bank, and the ministries of economy and cooperatives. A member of parliament’s budget committee, Seyed Abdolkarim Hashemi Nakhle Ebrahimi, linked the viability of such welfare spending directly to the outcome of the 60-day US-Iran understanding, which he described as both economic and political. He argued that sanctions have restricted oil exports and access to financial resources, and that a diplomatic breakthrough could unlock the funds needed to meet public expectations. Reformist politician Gholamhossein Karbaschi, in a separate interview, reinforced the view that a healthy economy cannot take shape without balanced international relations, pointing to Turkey and Pakistan as models of countries that have preserved political and economic independence while maintaining normalised global ties.

In Bogotá, the Ministry of Commerce, Industry and Tourism is preparing a decree that would impose additional tariffs on more than 120 imported products, ranging from personal hygiene items and kitchenware to bed linen, mattresses, and clothing. The proposed increases vary by product group: some would see a 10-percentage-point rise to a final tariff of 20%, while others would face a 20-point increase, reaching 35%. The government argues the measure is a tool for productive transformation, designed to strengthen local manufacturing and correct distortions caused by imports from countries with which Colombia has no trade agreements. Importers are expected to pass the higher costs to consumers, and domestic companies that rely on imported inputs would face rising production expenses.

In Iran, the final decision on the subsidy increase hinges on securing sustainable, non-inflationary funding, with no timeline yet announced. The broader political context is shaped by the ongoing US-Iran talks, which Karbaschi described as unavoidable, stating that “any war ends in negotiation and agreement.” In Colombia, the tariff decree remains under review, and its entry into force will be the next milestone to watch. Both governments are deploying targeted economic interventions to manage inflation and social pressures, while navigating external constraints that will determine how far those measures can go.