BAKU, Azerbaijan, July 21
By Elnur Baghishov – Trend:
The liquidity in Iran is expected to increase by 32 percent in the current Iranian year (March 20, 2020 to March 21, 2020) compared to last Iranian year (March 21, 2019 to March 20, 2020), Head of Tehran Chamber of Commerce, Industries, Mines and Agriculture (TCCIMA) Masoud Khansari said during the chamber's meeting, Trend reports citing the chamber's website.
Khansari emphasized that thus, liquidity in Iran will rise to 32 quadrillion rials (about $761 billion).
Khansari added that this is an increase of 700 trillion rials (about $166 billion) compared to the last Iranian year.
The official said that the liquidity in Iran increased by 31 percent at the end of last Iranian year compared to the preceding Iranian year (from March 21, 2018 to March 21, 2019) to 24.7 quadrillion rials (about $588 billion).
Khansari noted that given that there was a balance between liquidity and gross domestic product (GDP) three years ago (March 21, 2017 to March 21, 2018), liquidity has more than doubled in the following years compared to three years ago.
"However, the GDP has increased by 83 percent over these years. Therefore, the imbalance between the increase in liquidity and the growth of GDP has resulted in an increase in prices," he said.
According to him, given the variability of market efficiency, it is possible for citizens to move en masse from one market to another at any time.
"Iran's exports of crude oil, gas and gas condensate decreased by 52 percent in the last Iranian year compared to the preceding Iranian year. The exports of these products decreased from $56.8 billion to $39 billion," he said.
Khansari noted that Iran's foreign trade amounted to $13.9 billion during the first three months of current Iranian year (March 20-June 20, 2020). About $6.4 billion of it was exports and about $7.6 billion was imports. This is a decrease of 44 percent compared to the same period last Iranian year.