An international institute has published a list of inflation for countries of the world, and Iran, rich in natural resources, especially in the oil and gas sector, has occupied a place in the list of the ten most inflationary countries, namely Venezuela. , Zimbabwe, Zambia, Sudan and Argentina.
The newspaper in Persian language Khorasan wrote about this: “Recent studies by the Trading Economist Institute show that Iran is in the list of the 10 countries with the highest rate of price growth and inflation in the world, ranking sixth among 186 countries. in terms of high inflation rates and Venezuela, Sudan and Zimbabwe are ranked first to third.
Venezuela has suffered from hyperinflation since 2016, in particularly with a sharp drop in oil prices on the one hand and US sanctions and bad economic policies on the other. in Venezuela from 2018 to 2019 was estimated in over 60,000 percent, dropping to around 3,000 percent last year, to rank the country as the country with the highest inflation rate in the world, with a large gap between it and the rest of the world.
As for Sudan, the inflation rate in this country increased last year to 400%, but yet the inflation rate dropped to 300% this month and Sudan has seen an 80% drop in oil revenues since South Sudan’s secession.
The world has long cited Zimbabwe as an example of hyperinflationary countries in the world and the rate of inflation in this country is currently around 200%, which means the average price of goods in this country has tripled in one year.
The other Arab country on the hyperinflation list is Lebanon, where since the civil war it has not witnessed what it is witnessing today, such as a series of internal crises linked to currency prices, the explosion of the port of Beirut, sanctions and instability due to Hezbollah attack role in governance The difficult situation has pushed the inflation rate to rise.
A small country in South America ranks fifth ahead of Iran, Suriname, with an inflation rate of around 64%.
But Iran, with all its natural wealth, ranks sixth in the world with the highest inflation rate of nearly 50%, and according to the Iranian Statistical Center, the inflation rate in the field of food has increased. notably recently, with the average inflation rate reaching over 60% on this Upper Egypt, while Iran is nominally one of the oil rich countries and the second largest gas exporter in the world.
According to some experts, the high and persistent inflation of the past five decades casts a shadow over the country, and no other country in the world has had a similar experience, and it comes after Iran, South Sudan, Argentina, Angola and Zambia among the list. of the most inflationary countries in the world.
In this regard, the head of the Iranian Organization for Planning and Budget said: “Due to the budget deficit and the lack of implementation of the projects, the” creation of money “took place without restrictions, which led to a high inflation and consequently the standard of the people’s life has fallen “.
In recent years, “money creation” has been rampant due to budget deficits and non-implementation of projects, which has imposed hyperinflation on the economy and led to lower living standards, where in poor areas of the country the increase in the prices of materials prime is higher than the media national, while the income in these areas is very low.
Money creation or money creation, often colloquially referred to as “printing money”, is the process by which a country’s money supply is increased, and the process is performed by central banks and each printed currency unit must be guaranteed by a balance of foreign currencies. foreign exchange reserves or a balance of gold, or real goods and services produced in the company, in so that money has real value and not just printed matter.
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