|
Trending Topics
|
Iran's Economy in Desperate Need of Solutions
(Al-Monitor) Ali Dadpay - As Iran's government oil revenues declined, it continued to pay subsidies, directly and indirectly, accepting a widening budget deficit that stood at 2/3 of Iran's annual budget - and this was before the coronavirus spread to Iran. According to the Central Bank of Iran, Iran's economy is experiencing an average inflation rate of 41%. The consumer price index for meat products has risen by 116%. Iran's major crude oil clients - India and China - have already found new suppliers. The writer is an associate professor of finance at Gupta College of Business, University of Dallas.