Tuesday, May 09, 2006

An Iranian " Command Economy"!

People like me who have studied economics, were a little puzzled when Iranian parliament[Majles] decided to instruct the government [the Central Bank] to regularly reduce the interest rate in Iran until, it become a single digit. I have learnt that Majles has come up with another noble idea, asking the government to ensure that inflation rate would become single digit too. If anything and everything could be reduced in this way, i.e. by issuing " command", may I beg the honourable members of Majles to pay special attention to the following:
-Although I don't know what the actual unemployment rate is, it is most likely to be double digit. Could we have a single digit unemployment rate please!
- During the last financial year, Iran trade deficits with the rest of the world was about $32 billion. That is too high. Let us make it a single digit deficit.
- The number of people killed on Iranian raods is the highest in the world. Please issue the appropiate " command" to reduce it too.
- Drug usage in the economy is a real problem, the latest figure that I read, gives something between 2 to 3 million adicts in the country. Could you not issue a command to lower this?
-The head of a research centre in Tehran has said that the overall performance of the economy during last year was very good. Among other things, he mentioned that liquidity has increased by nearly 35% in one year! Could we have a single digit growth rate please....
What else could I say?
God bless you ladies and gentlemen! Go on.... issue more commands..... There are still a lot to be done to create a prosperous economy....

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