Iran Economy

Iranian First Vice President Es’haq Jahangiri has called for plans to develop the infrastructures for digital economy in the country, highlighting the role that the Ministry of Information and Communications Technology plays in working towards that goal.

The Iranian president has instructed the caretaker of the Ministry of Industry, Mine and Trade to adopt the necessary measures to manage the market and support businesses amid COVID-19 pandemic.

The Iranian president says all efforts should be channeled into improving people’s economic situation and living standards as well as boosting hopes of a better future.

The caretaker of Iran's Ministry of Industry, Mine and Trade has imposed a ban on the import of the medical supplies that are produced domestically.

The Iranian Parliament passed a law on Sunday according to which the plans to take foreign currency out of the country may be subject to forfeiture and will result in financial penalties.

The Tehran Stock Exchange (TSE) index has surpassed 1 million points for the first time in history.

IFP has taken a look at the front pages of Iranian newspapers on Tuesday, May 5, 2020, and picked headlines from 12 of them. IFP has simply translated the headlines and does not vouch for their accuracy.

The idea of knocking off zeros from countries’ national currencies goes back decades, with some governments removing noughts from banknotes several times to harness inflation.

Iran’s government spokesman says shares of four refineries will begin to be offered to the public soon.

The benchmark Tehran Stock Exchange (TSE) index managed to break above its all-time highs hitting over 900,000 points.

Iranian President Hassan Rouhani has praised the Central Bank of Iran (CBI) for its efforts to meet the domestic demands and provide the necessary funding amid the severe international conditions caused by the coronavirus.

Iran’s Minister of Industry, Mine and Trade says the government has allocated a great amount of money to help the industries which are damaged by the spread of the coronavirus.

An analyst says recent developments indicate the world economy will no longer be dependent on oil revenues in the future.

An Iranian official says the export of non-oil products from the country’s ports in the last Iranian year has increased by 4% compared to a year before.

The Iranian president says the drop in the pace of coronavirus infection in the country is due to citizens’ abidance by the social distancing plan and businesses’ compliance with health protocols.

Iran’s president has tasked the ministry of economic affairs to facilitate the selling of the shares of major state companies at the stock market as soon as possible.

Iran will offer low-interest loans to employers to keep their employees on the job amid the coronavirus outbreak, a top official says.

Iran's President Hassan Rouhani says the dark picture of Iran portrayed by enemies is baseless and an outright lie.

The Iranian president says interest-free and low-interest loans will be offered to millions of Iranians and businesses affected by the coronavirus outbreak.

Iran’s first vice president says new economic programs are required in order to tackle the repercussions of the coronavirus outbreak.

Iran’s Minister of Cultural Heritage, Tourism and Handicrafts says the ministry is pursuing the allocation of about $250,000 to compensate for the damages to Iran's tourism infrastructure.

The spokesman for the Iranian administration Ali Rabiei has warned that a long-term shutdown of businesses amid the outbreak of coronavirus and the government’s non-intervention in the labor market policies could result in the unemployment of more than 4 million people in the country.

Iran and Turkey have agreed on the 24-hour operation of their customs offices at the borders while observing the health protocols amid the outbreak of coronavirus.

Iran’s National Headquarters to Fight Coronavirus has announced that low-risk businesses can restart their activities in coming days after registering on the website of the Ministry of Health and receiving a code.

Iranian President Hassan Rouhani has stepped up the administration’s response to the coronavirus outbreak by announcing plans to give more than 23 million households emergency financial aid.