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[National Post-Canada] David Frum - Why after 30 years of clerical repression have the people of Iran suddenly rebelled? It's the economy. Iran collected $272 billion in oil and gas revenues in the past four years, yet economic conditions have sharply deteriorated under Ahmadinejad. Iran's central bank reports an inflation rate of 25%. The unemployment rate has reached 17%. Endowed with vast resources of oil and gas, Iran ought to be a wealthy country. Yet, adjusted for inflation, the income of the average Iranian today is no higher than it was in 1975. Almost three-quarters of the economy is owned by the state or by religious foundations, creating ample opportunities for corruption. 2009-06-22 06:00:00Full Article
Economics Behind Iranian Unrest
[National Post-Canada] David Frum - Why after 30 years of clerical repression have the people of Iran suddenly rebelled? It's the economy. Iran collected $272 billion in oil and gas revenues in the past four years, yet economic conditions have sharply deteriorated under Ahmadinejad. Iran's central bank reports an inflation rate of 25%. The unemployment rate has reached 17%. Endowed with vast resources of oil and gas, Iran ought to be a wealthy country. Yet, adjusted for inflation, the income of the average Iranian today is no higher than it was in 1975. Almost three-quarters of the economy is owned by the state or by religious foundations, creating ample opportunities for corruption. 2009-06-22 06:00:00Full Article
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