All News about Iranian Economy – Looking at Iran’s economy on a macro scale, including the big decisions and policies that would shape the markets today and tomorrow.
The Iranian oil minister says the development of the southwestern Azadegan oil field will generate an income of some $115 billion for the country as well as 24,000 jobs for people.
An Iranian daily has criticized the President Ebrahim Raisi administration for boasting of a policy of economic engagement with regional countries, which “accounts for merely six percent of the world economy.”
Iranian President Ebrahim Raisi says the signing of a memorandum of understanding to invest $7bn in the South Azadegan oil field, in the Persian Gulf, is an example of mobilization of domestic capabilities.
Iran’s deputy minister of roads and urban development says the country and Russia have reached an agreement on the details of carrying 10 million tons of goods from Russia via the north-south corridor of the Islamic Republic.
Iran’s Center of Commerce and House of Innovation and Technology was launched in Sulaymaniyah before noon on Tuesday, July 5, 2022, in a ceremony attended by Iranian and Iraqi Kurdish officials as well as representatives of the private sectors of the two sides.
The trade conference of Iran and Iraq’s Kurdistan region was held on Monday, July 4, 2022, at Sulaymaniyah’s Titanic Hotel with the participation of 33 Iranian knowledge-based companies and over 100 companies and merchants from the Kurdistan region.
Official data show the value of trade between Iran and Turkey increased by 39 percent to $2.7 billion in the first five months of 2022, up from $1.9 billion during the same period a year earlier.
The Iranian Customs Organization’s spokesman has said non-oil trade between the country and neighbors in the first quarter of this Persian year was $12.36bn. Seyyed Ruhollah Latifi added that neighbors accounted for 51 percent of Iran’s total exports.
China and Russia have voiced support for an application filed by Iran — which is home to one of the world’s largest oil and natural gas reserves — to become a member of the BRICS alliance of emerging economic powers.
Iran says it is preparing to roll out a pilot version of its first Central Bank Digital Currency (CBDC), named Crypto-Rial, in around two months, in a development that could transform the country’s financial canvas.
President Ebrahim Raisi expresses Iran’s readiness to share all of its capabilities and capacities with the BRICS states to help the five emerging economic powers achieve their objectives, saying Iran, as a reliable partner, can connect them to the world’s main energy routes.
A spokesperson for the British Prime Minister Boris Johnson’s office has revealed that the UK is weighing mechanisms to facilitate restoration of trade ties with Iran.
An Iranian daily says the administration of President Ebrahim Raisi has failed to make good on his promises to keep prices of basic commodities and products in check after removing the subsidies.
Iran’s Customs Administration says the country recorded a foreign trade of 25.5 billion dollars in the first three months of the current Persian calendar year that began on March 21.
Official data show the value of trade between Iran and Turkey increased by 38 percent to $2.1 billion in the first four months of 2022, up from $1.5 billion during the same period a year earlier.
The current trend of fuel consumption in Iran will leave the government with no choice but to import gasoline to meet domestic needs, an Iranian newspaper says.
The Iranian foreign ministry’s deputy for economic diplomacy has described relations with Russia as strategic calling for a focus on energy, trade and transit sectors to build on a surge in ties which he says saw a jump over the past months.
A group of home appliance shop owners hold a protest in downtown Tehran against a plan by the Iranian Ministry of Finance to levy tax on their banking transactions.
Dozens of Iranian economists, in an open letter addressed to the government, have expressed concern about the current social and economic situation in the country saying public worries about their livelihoods and businesses have reached a point of explosion.
Iran’s police say they have arrested 31 principals pulling the string of futures foreign currency and gold trade, as the Iranian rial’s exchange rate against the US dollar hits historical lows, driving a gold price surge.
Iran has delivered another oil tanker to Venezuela during a ceremony in which the presidents of the two countries participated from Tehran via video conference. The delivery ceremony was held in the Persian Gulf.
