Iran and the uncontrolled tsunami of liquidity

INVOLVED IN THIS ARTICLE:

Saipa Corporation

Saipa Corporation

Iran Khodro Group

Iran Khodro Group

IRGC – Islamic Revolutionary Guard Corps

IRGC – Islamic Revolutionary Guard Corps

What does it say when five million people register to buy a car?

Registration of five million people to participate in the car pre-purchase lottery seems to be a world record that the state-run Iran Khodro and Saipa car companies can record in the Guinness Book of Records.

According to officials, more than five million people have registered for the new car registration and a lottery plan so far, meaning that there is one car in the lottery process for every 200 people in the current situation.

But the interesting thing is that this large crowd of car purchase applicants has set this record in five days. This means that one million people daily and about 208,000 people hourly have announced that they have the ability to buy a car by visiting the website of the two automobile manufacturers.

In addition, another interesting point is that about half of the registrants, i.e. 2.5 million people, have applied to buy Pars Tu5. A car whose factory prices are currently announced at 85 million Tomans on various sites. Numbers that if we multiply them, we get the number of 21,250 trillion Tomans and it is a sign of great economic disease in the country, “Super liquidity.”

The point is that despite the constant criticism from the public about the quality of Iranian cars, five million people are thinking of buying and registering.

Liquidity in Iran has become a super challenge and according to the official announcement, its number has reached 2,500 trillion Tomans.

A number that reflects the multitude of stray currencies in the country’s economy that acts like a permanent tsunami and its long waves always disrupt various markets.

A tsunami that we have been witnessing in the stock market for several months and the total index reaches more than one million units and one day after it left the capital market and makes the coins price to 7,500 million Tomans and now it will devastate Iran car market.

The regime’s economic experts have repeatedly warned of the growth of liquidity in the country in recent years, but it seems that it is out of the control of the regime’s officials due to the country’s economic conditions and indicators such as high inflation.

Massoud Khansari, Chairman of the Tehran Chamber of Commerce and Industry, has repeatedly warned on the growth of liquidity in the past few years. At the last meeting of the Board of Representatives of the Tehran Chamber of Commerce, Industries, Mines and Agriculture, he warned again about the growth of liquidity in the country, while pointing that the liquidity in Iran has reached the number of 2,470 trillion Tomans. He said:

“This liquidity is like an avalanche that can destroy or revive wherever it intends to go. As we now see the effects of its entry into the capital market. Rising gold, coin, currency, and car prices are the effects of rising liquidity. This is in the context of the fact that in the budget of 2020-2021, a large deficit of 120 trillion Tomans has been predicted. Due to the corona phenomenon and the unprecedented decline in oil prices, the Iranian economy is facing difficult conditions.”

According to the regime’s experts, this avalanche of liquidity, in addition to market instability, can deal a severe blow to Iran’s economy that cannot be compensated.

Source » irannewsupdate

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