NCRI – Experts on Iranian economy predict skyrocketing inflation due to the policies of Ahmadinejad’s government. The deteriorating state of economy has led to widespread poverty despite tremendous rise in oil revenue. There has been labor protests across the country complaining about non-payment of wages and low income. Many factories have either closed down or had to scale down their production due to lack of raw material and bad management.
A group of 50 prominent Iranian economists have written an open letter to Ahmadinejad, criticizing his government policies. The Central Bank of Iran has put the inflation rate of last Iranian fiscal year (ended March 20) at 12.1 percent, while the unofficial sources estimate the figure is close to double the bank’s said rate.
