Only in Iran

In the face of double digit inflation Iran is cutting interest rates?

TEHRAN, May 22, 2007 (AFP) – Iranian President Mahmoud Ahmadinejad on Tuesday slashed interest rates in defiance of double-digit inflation that is expected to rise further this year. Read the entire article

While raising the price of gasoline by 25%? Also a quota system has been announced but insufficiently prepared for implementation.

TEHRAN, May 22, 2007 (AFP) – Oil-rich Iran on Tuesday increased the price of petrol by 25 percent despite announcements by the government only the day before that prices would remain the same for the moment. Read the entire article

This is certainly the perfect recipe for domestic unrest and runaway inflation. But then, economics in the Islamic Republic of Iran is, “for donkeys.”

One Response to “Only in Iran”

  1. Panic Selling Hits Iran Stock Market « Paleo Lithics Says:

    […] Khomeini once dismissed the concerns of his first prime minister with the observation, “Economics is for donkeys!” What was important was Islam – not the […]

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