However the figures show that the Islamic Republic's economy has deeply hit by the world crisis.
Shamseddin Hosseini who is also the Minister of Economic Affairs and Finance argued that in economic terms the government has achieved its goals, although the surveys issued by International Monetary Fund (IMF) refute the allegation.
Based on the latest figures published by IMF (which are referred by the Iranian administration and even government backed media as a reliable source) the rate of drop in Iran's economic growth is equal to countries like Britain and the United Arab Emirates. Even the same amount is higher than that of the United States, the main victim of the crisis which struck the international economy.
The same source reveals that the economic growth rate of the Islamic Republic in 2009 when the global economy crisis reached a peak, has reduced by 6.3 percent compared to 2007. Notably, at that time the oil price soared to a new height
Earlier, on the sidelines of the recent Economic Cooperation Organization (ECO) ministerial meeting held Wednesday in Tehran, Hosseini had said: "If we consider the history of the late financial crisis which shook the world, it can be realized that the least damages inflicted on the country for transactions in global stock markets."
So if according to the argument made by the government speaker, the separation of the Iran's capital market from the world was the main reason for its invulnerability to the blows of the crisis, we should have not witness such a downward trend, unless we realize that the world crisis has simply contributed to the inept practice of the government in handling the domestic economy.
But as the world is passing through the crisis, the condition of Iran economy which as claimed by the government speaker has experienced the least damage, is actually much critical than the major global victims.
The rate of growth predicted for Iranian economy in 2009-10 is simply 0.7 percent, the lowest among the eight observed countries. It discloses that Iranian economy has gone through a decline in growth rate in line with the world crisis and has a long period of convalescence ahead.
However the other interesting point made in this brief comparison is the curve of changes in the Islamic Republic's economy in 2007-2010 which among the eight observed countries is mostly corresponds to that of China. Concerning the increasingly massive trade relations between the two countries, the issue regardless of its positive or negative outcomes deserves a study by the experts.
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