Parliament research center: Iran’s economy far from ideal situation

Business Materials 31 August 2013 14:25 (UTC +04:00)

Azerbaijan, Baku, Aug.31/ Trend F.Karimov/

Iran's economy is far from the ideal situation given huge financial resources which have been spent, a report released by Iran's parliament (Majlis) research center has revealed.

In fact, indices of macro economy for 2005-2013 show that there is a wide gap between the national economy's current situation and the ideal situation despite financial resources, especially foreign currency resources which have been spent.

There are different political, social, historical, and environmental reasons for the weak performance of the national economy.

For instance, studies show that $22.8 billion has been spent each year during 2005-2013 to increase the economic growth rate by 1 percent, while this figure was $4.5 billion during 1997-2005.

Low economic growth rate is currently the main challenge in the national economy, Iranian Finance and Economic Affairs Minister Ali Tayyebnia said last week, ISNA reported.

Tayyebnia referred to high unemployment as another serious concern.

For the time being, some 3.5 people are unemployed in the country, he said, adding that the figure will hit 8.5 million, because a large number of educated youth will graduate from universities soon and will look for a job.

The ministry will focus on improving the living standards through curbing inflation and flourishing businesses, he stated.

The Central Bank of Iran has recently reported that the country's gross domestic product (GDP) growth rate (excluding oil sector) was 3.2 percent in the Iranian calendar year 1390, which ended in March 2012, ISNA reported.

This is while the Statistical Center of Iran had put this figure at 3 percent.

The central bank has said that the GDP growth rates were 6.38 percent, 3.16 percent, and 0.83 percent in 1389, 1388, and 1387 respectively, while the statistical centers has put the figures at 5.8 percent, 3 percent, and 0.8 percent respectively.