Iran’s misery index reaches 50.5 per cent

Business Materials 18 November 2013 19:26 (UTC +04:00)

Baku, Azerbaijan, Nov. 18

By Umid Niayesh - Trend:

Iran's misery index has reached near 50.5 per cent, during the first half of the Iranian calendar year (started on March 21), Iranian Shargh newspaper reported on Nov. 18.

The misery index is an economic indicator, which counted by adding the unemployment rate to the inflation rate. It is assumed that both a higher rate of unemployment and a worsening of inflation create economic and social costs for a country.

According to the report, Iran's unemployment rate reached 10.4 per cent during the first six months of the current Iranian calendar year.

The misery index has grown sharply during the ex-president Mahmoud Ahmadinejad`s administration (2005-2013).

The figure was 21.9 per cent during the calendar year which ended in March 21, 2006, while reached 42.7 percent by the end of last Iranian calendar year (ended on March 21).

During Ahmadinejad's presidency, all of government incomes reached $864 billion from petroleum sales, taxes, privatization, issuing bonds, etc.

The Parliament Research Center said that during 2006-2011, about 300,000 job opportunities have been lost, namely, number of the demands for labor force decreased from 20.84 million to 20.51 million.

These statistics are completely in contrast with Ahmadijenad's claims about 5.6 percent GDP growth or created 7 million new jobs during his 8 years presidency.

Now, Iranian President Hassan Rouhani has to manage and recover the economy, while Iran's oil exports have decreased from 2.2 million barrels per day (mbpd) to below one mbpd during last two years.