Domestic Economy

No Economic Magic Wand!

No Economic Magic Wand!
No Economic Magic Wand!

Following the success of the Third Five-Year Development Plan in achieving a 5.7% economic growth, an 8% economic growth was envisioned in the Fourth Plan for the first time. The plan also set the inflation rate at 9.9% and investment rate at 12.2%, which were never achieved. In fact, the economy registered half of those figures, i.e., 4.4% economic growth, 15.4% inflation and 5.7% investment, Hossein Haqgou, an economist, prefaced his write-up for the Persian daily Ta’adol with this note. A translation of the text follows:
Despite the failure of the Fourth Plan, the 8% economic growth and single-digit inflation rate were included in the fifth and sixth development plans again, which objectives, as expected, were not achieved. 
The average economic growth of the Fifth Plan was -0.6% and that of Sixth Plan was between -1 and 0; the economy saw the fall of investment [negative investment rates were registered] and the inflation rate exceeded 40%. 


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