From bad to worse: Iran's inflation rate hits 37.5%
This is while the Statistical Center of Iran had put the figure at 33.9 percent, according to the Fars News Agency. Central Bank of Iran Governor Mahmoud Bahmani has said that the country would curb inflation through three financial policies. “By selling bonds and gold coins as well as reducing liquidity, we hope to curb inflation,” Bahmani stated. Iran’s average monthly inflation rate was 25.4 percent during the previous Iranian calendar year, which ended on March 20. In April, the International Monetary Fund reported that Iran's economy contracted by 1.9 percent in 2012 and is expected to shrink by 1.3 percent this year. However, the economy of the Islamic Republic is forecast to grow next year by 1.1 percent, the IMF said in its annual World Economic Outlook.
- The tip of the iceberg: Gaza War to 'leave a dent' in the Israeli economy
- Starting with fewer power cuts, what has Eid brought to the Egyptian economy?
- From escaping to winning: the story of the Lebanese who are 'making it big' in Brazil
- A will with no way: Egypt's charitable spirit dampened with economic hardship
- OPEC exports largest share of petroleum to Asian and Pacific countries in 2013