Domestic Economy
0

Rich-Poor Spending Gap Narrows

The richest 10% spent 13.69 times more than the poorest 10% in the fiscal 2019-20
Rich-Poor Spending Gap Narrows
Rich-Poor Spending Gap Narrows

The spending gap between the richest and the poorest narrowed in the last Iranian year (March 2019-20), data from the Statistical Center of Iran show. 
Individuals in the top 10% of income earners spent 13.69 times as much as those in the bottom 10% income strata. 
The SCI data also show individuals in the top 20% and top 40% of the income distribution spectrum spent 7.97 and 4.25 times as much as those in the corresponding group of low-income people, respectively.   
In the year ending March 2019, the top 10% of income earners spent 14.45 times as much as those in the bottom 10% while the top 20% and 40% of the income distribution spectrum spent 8.36 and 4.41 times as much as those in the corresponding group of low-income people, respectively.
According to SCI, three trends could be discerned in the comparative study of spending inequalities over the past 19 years since the fiscal 2001-02. 

Premium

Subscribe to the Financial Tribune to continue reading this article or Log in to your account if you are already a subscriber.

Find out more about our subsciption plans here.

Add new comment

Financialtribune.com