Saturday, November 13, 2010

CBI Report on Iran’s State of Economy – Growth Rate Not Reported

The Central bank of Iran (CBI) in its latest annual state-of-economy report, published today in Tehran, did not reveal the country’s rate of economic growth for the Iranian calendar year 1388 (ending 20 March 2010). This is the second consecutive year that the CBI is refusing to publish the country’s most vital economic statistics. It is believed that the CBI is under government pressure not to publish the sharp decline in the rate of economic growth in the past two years. The IMF estimates the rate to be under 1% for the period.

The CBI report shows Iran’s oil exports averaging at 2.24 million barrels a day for the period, the lowest figure in many years. The oil production for the year (ending 20 March 2010) shows a steep decline to 3.56 million barrels a day, a 10% decline from the previous year.

The country’s non-oil exports rose sharply to $21.3 billion in the period. Although the CBI report did not provide details, but this figure is thought to include the export of refined oil products.

The country’s foreign debts remained almost unchanged at $21.6 billion, which includes $8.8 billion in short-term debts.

For a detailed report on CBI’s statistics, please see Donya-e Eghtesad (in Farsi).


Anonymous said...

loks like the government saves the budget and does not spend excessive money as at the first term of the Ahmadi nejad presidency.

That is reason of falling infltaion and maybe reason why the oil export decrease but the debt does not.

reader said...

A growth rate of less than 1% while on sanction is quite remarkable considering that many advanced economies in the west are still struggling to get out of the recession. The government needs to be more open and honest with people and stop underestimating their intelligence by not giving them the full picture. There is always a price for a nation to stay independent and proud of the super powers. They need to act intelligently and in return the people will be accepting of the consequences.

Anonymous said...

This regime has zero economic knowledge. While other countries are going forward , Iran is going backwards .

Anonymous said...

Sure the regime has zero economic knowledge.
for example the Lehmann-bros and the following heaviest finiacial-economy crisis since 1929 ist caused by Iran.
The coutries lilke Greece, Ireland, Portugal, Spain are more and less bankrupt.
US is one step to bankruptcy.
The $ and probably Euro becoming fiat money.
of course the Regime has no knowldge of Economy

Anonymous said...

well said last anon