Thursday, June 30, 2022

Iran Economy

Iran to roll out pilot version of Crypto-Rial digital currency soon

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.

Daily critical of soaring prices of goods in 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.

Report: Iran registers highest monthly inflation figure since 1979

Iran’s monthly inflation has hit a four-decade record high of 12.2 percent over the Persian calendar month of Khordad – May 22 to June 21.

Iran’s foreign trade hits $25.5bn in the first quarter

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.

Iranian economists warn about consequences of government policies

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.

Govt. rejects reports on fuel prices rise

Iran’s government spokesman has dismissed reports that the president is considering a rise in gasoline prices, after Ebrahim Raisi’s comments on “difficult economic decisions” triggered panic about further economic woes, amid raging inflation.

Iran’s president unveils 82 projects

Iranian President Ebrahim Raisi has unveiled 82 industrial, construction and agricultural projects in Iran’s free and special trade zones via video conference.

Shamkhani: Iran firmly resolved to push ahead with development plan

The secretary of Iran’s Supreme National Security Council has said Iran’s Islamic establishment is firmly resolved to push the country toward development.

President Raisi: Govt. seeking to materialize 8% economic growth

Iranian President Ebrahim Raisi says the government is seeking an eight percent economic growth and management of the so-called preferential foreign currency rate, allocated to some basic goods to prevent a rise in their prices.

President Raisi says his administration ‘doesn’t seek to remove subsidies’ for essential goods

Iranian President Ebrahim Raisi says his administration seeks to reform the allocation of subsidies for essential goods but does not aim to eliminate them.

Iran’s VP: Govt. seeking fair distribution of subsidies

Iran’s first vice president says the administration is determined to enable a fair distribution of subsidies among the people, urging the public “not to worry” over purchases of essential items, amid a rise in prices of certain flour-based goods in the country.

Prices of some essential items soaring in Iran as govt. eliminates flour subsidy

Iranians have, in recent days, witnessed a steep hike in prices of essential items, mainly wheat-based food, in the aftermath of a government decision to eliminate the subsidy for industrial use of flour.

Iran’s economic growth rate was 5.8% last fall: Central Bank

Iran’s Central Bank has released the economic indices for the third quarter of the last Persian-calendar year (ended March 20).

Iran registered positive balance of trade last month: Customs official

An Iranian customs official says the Islamic Republic registered a positive balance of trade in the first month of the Persian calendar year (ended April 20).

Iran’s trade rises 3-fold in Q1 of 2022: Customs

Iran’s Customs Administration says the country’s foreign trade registered a more than three-fold increase in the first quarter of 2022 year on year.

Iran trade with neighbors grows to $52bn

The value of Iran’s trade with neighboring countries grew 43% percent last Iranian calendar year, compared to the previous one, which ended on March 20.

Iran’s non-oil trade hits record high in years: Official

Iran’s non-oil trade hit a record high figure in the Iranian calendar month ending March 20, an Iranian customs official says.

Iranian president says economy not tied to JCPOA

Iran’s President Ebrahim Raisi says his administration has not tied the Iranian people’s lives to the 2015 nuclear deal, JCPOA.

Iran’s steel exports surpass 6.4 million tonnes in 11 months

Iran exported upwards of 6.4 million tonnes of steel and steel products in the eleven months to late February 2022, registering a 9%-rise year on year.

Historic growth in Iran’s foreign trade

Official figures show Iran's foreign trade increased by 50% in January and February of this year.

Iranian daily: Officials paying lip service to improving economy

Iranian daily Jomhouri Eslami - Islamic Republic – has strongly criticized the government’s handling of the economic situation in the country, saying the pressure people are facing to provide for their livelihoods “has broken their backs”.

Iran’s service sector inflation rate hits record high

Iran’s service inflation rate reportedly hit a record high in the autumn of 2021.

Iran parliament sounds alarm over key economic indicators

A report by the Iranian parliament’s center for research show capital inventory will be in the negative zone this Iranian calendar year to March 2022 for the third consecutive year.

15th Iran Plast exhibit opens in Tehran

The 15th Iran Plast exhibition, the largest specialized expo on polymers in the Middle East, has opened in the Iranian capital Tehran in a ceremony with the presence of Oil Minister Javad Owji.

Enemy sought to shatter Iran’s economy: Iran Leader

Iran’s Islamic Revolution Leader says the enemy has tried to deal a blow to the country’s economy by waging an economic war.

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