Iran’s Gini Index up 2.8%

Financial Tribune – Iran’s Gini Index was at 0.4093 in the last fiscal year (March 2018-19), indicating that the gap between the rich and the poor increased by 0.0112 points or 2.8% compared with the year before (March 2017-18).

Citing the findings of the Statistical Center of Iran, the Persian daily Donya-e-Eqtesad reported that the Gini Index for last year has been the highest since the fiscal 2010-11.

The Gini Coefficient ranks income inequality on a scale of zero—no inequality—to one, the maximum level of inequality. In other words, the closer the number is to one, the more wealth is concentrated in the hands of fewer people, thus the bigger income disparity.

Because of the way the scale is constructed, a modest-sounding difference in the Gini ratio implies a big difference in inequality.