Iran has announced a more than 60 percent increase in the national minimum wage, according to local media reports. The monthly minimum wage will rise from 103 million rials to 166 million rials at the start of the new Persian calendar year, following government approval. Child support benefits will also see a similar increase.

The annual wage adjustment comes as the country continues to grapple with soaring inflation and a sharply weakened currency, which is trading at about 1.47 million rials to the dollar. Economic hardship intensified under international sanctions and during ongoing tensions involving Israel and the United States.

The decision follows months of anti government protests that began over the high cost of living and currency depreciation before expanding into nationwide demonstrations against the clerical leadership established after the 1979 Islamic revolution. Authorities responded with a crackdown that rights groups say resulted in thousands of deaths, while the president of the United States has repeatedly urged Iranians to rise up against their government.