BAKU, Azerbaijan, March.9
Trend:
The head of the Tehran Chamber of Commerce said that the non-crude oil exports decreased by 18 percent in the current Iranian (starts on March 20, 2020) compared to last year.
The Chairman of the Tehran Chamber of Commerce, Masoud Khansari delivered his speech in the 21st meeting of the Chamber of Commerce representatives, today on Tuesday, Trend reports citing YJC.
“The economic activists` main concern for next year is the lack of public trust in the private and public sectors, as many of the economic issues are due to mismanagement. By the end of the current Iranian year (ends on March 21, 2021), we are expected to have 36 percent inflation, which has a big gap with the CBI forecast of 22 percent for inflation,” Masoud Khansari said.
The head of the Tehran Chamber of Commerce stated that one of the expectations of the people from the government is to single-digitize the inflation rate.
He went on to say that Iran's economy had many challenges in previous years, including sanctions, reduction of oil revenues, and the coronavirus pandemic.
"GDP in the last two years has been negative, which finally grew by 0.8 percent in the fall of the current year,” Khansari noted.
Referring to the non-oil trade in the current Iranian year, he says that imports have decreased by 15 percent and exports by 18 percent compared to the same period last year. Noting that $11 billion of foreign currency at the official rate (42,000 rials per dollar) has been allocated for imports this year, he added that despite this amount of subsidized import, unfortunately, the price of all food items has risen by 66 percent.