(29 Apr 1978) The dramatic rise in crude oil prices in the mid- 1970's brought sudden wealth to a privileged group of major oil-producing countries, among them Iran, which is undertaking a massive programme of investment, industrialisation and building, a programme which draws heavily on foreign earnings. and with the amount of oil for export expected to have virtually disappeared by 1990, the Shah is seeking to bring in as much foreign currency as he can now. However, this has meant that Iran is also importing that unwelcome aspect of western economic life, inflation.
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