BAKU, Azerbaijan, March 14
By Elnur Baghishov - Trend
Iran's Parliamentary Research Center forecasts inflation at the country at 20-25 percent next Iranian year (begins March 21, 2020), Trend reports citing the center's website.
According to the forecast, the government should reduce the budget deficit by cutting costs and raising taxes.
Inflation may increase if the budget deficit is not reduced, said the center.
The Research Center reports that inflation for this Iranian year (from March 21, 2019 to 21 March 2020) is estimated to be at 35 percent.
Highlighting the country economic development, the Iranian Parliament Research Center reports that in the first half of the current Iranian year (from 21 March to 22 September 2019), production of crude oil increased by 1.8 percent, while growth in agriculture sector was 5.5 percent, industry - 1.5 percent, water, electricity and gas - 10 percent, construction sector - 14.5 percent, and the services sector - 1.5 percent.
Although the development index is less predictable than in 2018, the non-oil sector in general is much better, said the report. Meanwhile, the growth index is mainly related to the oil sector.
In general, the unemployment rate declined during spring and summer seasons by 10.8 percent and 10.5 percent respectively, said the center.
At the same time, according to the research center, the high unemployment rate among young people who graduated from higher educational institutions raises concerns.