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Name:Institution:Course:Tutor:Date:Iran`s macroeconomic positionIntroduction Iran`s economy has been identified as among the largest economies globally through power parity purchasing and with regard to official claims of Iran; it is likely to improve considerably by the year 2015. The economy is a transitional and mixed economy, having a great public sector together with a 50% centrally planned economy. In addition, Iran`s economy is diversified within more than forty industries which are involved directly in Tehran Stock exchange (Shorrow 2004, p.284). Great religious foundations presence makes the economy unique. The spending by the religious foundations is usually beyond 30% regarding the spending by central government. It is evident that Iran is among the economies which have sustained positive growth following the experienced worldwide financial crisis of the year 2008. History concerning Iran`s economy Before 1979, the economic development of Iran was rapid. Being a society which was agricultural based traditionally, by the year 1970s it had gone through significant economic modernization and industrialization (Mau 2001, p.369). This growth pace had dramatically slowed by the year 1978 when capital flight attained an amount between $30 and $40 billion prior to the revolution. The long-term objectives which have been held by the government from the revolution time have been comfortable living standards for citizens, full employment and economic independence, although by the closing stages of 20th century, Iran`s economy experienced a variety of obstacles (Olson 2000, p.274). As a result of the nationalizations within 1979 together with Iran-Iraq war outbreak, more than 80% concerning the economy of Iran ended up being controlled by the government. Within the beginning of 21st century, the highest domestic gross product was produced by service sector, the second highest was industry (manufacturing and mining) and agriculture. The estimate of GDP was $383.3 billion in 1998, or 5,470 dollars within a year (Looney 2007, p.190). Growth patterns indicate that the held GDP in Iran has the capacity to double in the coming five years. In view of the attained figures together with the nation`s industrial base which is small although diversified, Iran was categorized by United Nations as semi-developed within the year 1998. Energy subsidies were found to be huge due to the fact that the nation has energy inefficiency. The year 2009 was marked by a situation where in research ratio to GDP amounted to 0.87% in opposition to the target of 2.5% by government. In accordance with Goldman Sachs, the country is capable of being among the largest economies worldwide within 21st century. From the time of revolution in 1979, government spending within Iran has on average been 13% upon general affairs, 15% upon national defense, 17% upon economic matters, and 59% upon social policies (Rugman 2001, p.877). Amid economic and social affairs, expenses have average...