Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Join the forum, it's quick and easy

Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

Would you like to react to this message? Create an account in a few clicks or log in to continue.
Established in 2006 as a Community of Reality

Many Topics Including The Oldest Dinar Community. Copyright © 2006-2020


    Iranians under the fire of high prices and sanctions raise inflation 40%

    Rocky
    Rocky
    Rocky
    Admin Assist
    Admin Assist


    Posts : 277148
    Join date : 2012-12-21
    • Post n°1

    Iranians under the fire of high prices and sanctions raise inflation 40% Empty Iranians under the fire of high prices and sanctions raise inflation 40%

    Post by Rocky Wed 24 Jul 2019, 10:34 am

     Iranians under the fire of high prices and sanctions raise inflation 40%

    Iranians under the fire of high prices and sanctions raise inflation 40% 16417




    Economy News Baghdad
    The official data showed that the rate of inflation in Iran continues to rise to 40.4%, representing a 2.8% increase from last month, which reached 37.6%.
    The Iranian Statistics Center said in its latest report on Tuesday that the cost of Iranian households increased by 48 percent during the month of Tir, which ended on Monday, compared to the same period last year.
    The Center also reported that prices in the "food and beverage" and "non-edible" categories rose by 1.3% and 3.5% during the month compared to the previous month.
    Iran's markets are in turmoil following Washington's withdrawal from the May 8 nuclear deal and its subsequent "comprehensive and harsh" sanctions against Iran, whose leader Hassan Rowhani said a while ago that no country had ever experienced such an attack. Iranian Vice President Yitzhak Jahangiri said on Tuesday evening that it was "the most unjust sanctions in history."
    "If these sanctions were imposed on another country, its economy would collapse," Jahangiri said, but noted that his country had succeeded in containing "the initial trauma of the sanctions to a large extent." He said that the Iranian economy "reached today to a degree of stability," calling for efforts to "prepare the state budget without relying on oil revenues."
    While the US administration imposed a comprehensive ban on Iranian oil exports from May 2, after suspending the exemptions granted to eight of its buyers, Jahangiri said that "the decline in oil revenues could be beneficial to the country and push for development."
    "In recent years, we have decided to reduce dependence on oil revenues," he said. "In the last few years, we have decided that if we lose it, our economy will collapse, people will fall into the streets and achieve what they hope for. Imposing sanctions ".
    The Iranian vice president said that after the US withdrawal from the nuclear agreement, "the five partner countries of the nuclear agreement (France, Britain, Germany, China and Russia) were expected to compensate for the economic pressures resulting from the US sanctions, but in more than a year, Serious and effective economic action ".
    Referring to Tehran's austerity policy to counter the consequences of US sanctions, Jahangiri called for "unnecessary costs to be eliminated," saying that "provincial chiefs are charged with a rigorous deal with any device that oversees costs."
    Referring to the difficult living conditions of Iranian citizens, the Iranian vice president said in other statements on Tuesday morning that "the Iranian people have been under pressure in recent years and we are shy of it."
    On December 13, the Supreme Council for Economic Coordination, which last year was set up to counter the consequences of US sanctions, approved the reform of the state budget structure, which was approved by the Iranian parliament in January.
    The budget of Iran is 447 thousand billion Tuman (the dollar equals 12600 Tuman). The Supreme Council for Economic Coordination approved the budget reform project in four axes: the pursuit of sustainable income generation, rationalization of disbursement, promotion of stability, development and justice, and structural reforms.
    The Iranian budget reform project is based on the theory of the resistance economy, proposed by the Iranian guide, Ali Khamenei, previously to settle the economy and reduce its dependence on the outside and oil revenues to reach economic stability away from external influences.
    Iran is trying to rationalize the budget and reform its structure to counter the repercussions of the "economic war" that US President Donald Trump says he is launching on Iran to force it to a comprehensive agreement to deal with all the issues raised around it, or "economic terrorism" as Tehran calls. 

    Against the backdrop of US economic pressure, Iran has lost its most important sources of foreign currency revenues, especially after the comprehensive ban on Iranian oil, the mining industry, the steel industry and the petrochemical sector, bringing the value of the Iranian riyal to record lows.
    The decline in the Iranian currency to record levels in the rise in prices of goods and services over the past year, but the "riyal" Iran has recovered in recent times, but it is still experiencing some fluctuations. 

    The riyal has improved over the past two weeks to 118,000 against every dollar last week, falling to 126,500 riyals in the last two days, but the price is improving from the previous month, which ranged from 130,000 to 140,000 riyals.
    The real estate sector was one of the sectors most affected by the worsening economic situation in the country. According to the latest official data published this month, real estate prices in Tehran witnessed a jump of 106.7% this spring compared to the same period last year.
    Source: The New Arab 

    • Back to top
      Current date/time is Sun 08 Sep 2024, 6:56 am