Iranian inflation drops to 10-year low in 2000/01

IRAN - Iran's inflation dropped to 12.8 percent during the Iranian financial year ending on Mar 20, 2001 its lowest level for 10 years, a newspaper reported on Apr 14 citing central bank figures.

The Norouz daily said the rate had come down from an average of 16.8 percent over the previous three years.

Iran currently has an estimated $7.5 billion budget surplus due to higher oil prices, but the economy is heavily reliant on oil revenues with bloated state-owned industries soaking up much of the