TEHRAN (Iran News) –Head of Tehran Chamber of Commerce, Industry, Mine and Agriculture (TCCIMA) says some $45b of capitals have been taken out of the country in recent four years and it seems the figure to be more than this because considerable part of Iran’s economy is underground.
Speaking in the 38th meeting of representatives of the chamber in presence of Head of the National Development Fund Mr. Mehdi Ghazanfari, Head of TCCIMA Mr. Masoud Khansari admitted that some $45b of capital has flown out of the country in recent four years.
He said that sharp decline in social investment is the major reason for decline in the investments in the country, adding that investment has shifted towards the early-yielding investments which is a plague for the national economy.
Khansari went on to say that the annual flight of elites has increased, and emphasized that last year some 160 elites and heart specialists left the country and if this condition continues, in the upcoming years the country will face with shortage of specialists.
Khansari blasted the sanctions and compared it with termite which destroying the country and said that the final cost of products in Iran is high and the prices now are uncompetitive and Iran has lost many markets. He continued to say that the annual export volume of engineering and technical services was once $5b and it has declined to $300m now.
He said that the average inflation rate of prices has been 4.7% and it means we have witnessed 100% rise in prices every year.
Khansari also pointed to the Seventh Five-Year Development Plan and said that the plan has forecasted 8% economic growth and single rate inflation but we should be realistic and analyze reasons for failures in the past because the country was to achieve 46.9% growth in the previous plan while the economy saw 3.44% growth.
He expressed satisfaction over Iran’s joining the Shanghai Cooperation Summit.