Iran Economy

The latest news and views about the economy of Iran

Economy

Economy minister says Iran’s rise in new world order promotes active role in global affairs

IFP Media Wire -
Iran’s minister of economic affairs and finance has stated that the increase in Tehran’s power in the new world order has enabled the country to play an active role in areas such as combating climate change, technology transfer and joint investments.
Economy

Iran’s Central Bank says to launch digital Rial in near future

IFP Media Wire -
Governor of the Central Bank of Iran Mohammad Reza Farzin has announced that the digital Rial will begin operations soon. He also stressed that the development of modern banking is one of the central bank’s key ongoing goals.
Economy

Economy minister: Remaining on FATF blacklist unjustly labels Iran as money launderer 

IFP Editorial Staff -
Iran's minister of economy has criticized the continued inclusion of Iran on the Financial Action Task Force (FATF) blacklist, arguing it unfairly labels the country as engaging in money laundering. 
Economy

Iran’s Chabahar Free Zone, Armenia business sectors sign cooperation agreements

IFP Media Wire -
The Chabahar Free Zone Organization on the coast of Oman Sea in southeastern Iran, has signed four cooperation agreements with four Armenian economic actors, aimed at providing the necessary groundwork and conditions to facilitate, expedite, guide, and support investment in the region.
Economy

Customs: Iran’s non-oil trade in past 7 months surpasses $70bn

IFP Editorial Staff -
Iran's Customs Administration released a report on Monday detailing the country's foreign trade statistics for the first seven months of the current Iranian year.
Economy

Iran’s foreign trade hits $100b

IFP Media Wire -
The value of Iran’s foreign trade has reached $99.7 billion during the first seven months of the current Iranian calendar year, the head of the Islamic Republic of Iran Customs Administration (IRICA) said in a report.
Economy

Iranian vice president: Joining FATF under review by administration

IFP Editorial Staff -
The Iranian vice president for legal affairs says the Financial Action Task Force (FATF) is currently being reviewed by the ministry of economy and finance, following a directive by President Massoud Pezeshkian.
Economy

Iran’s economy minister: Internet filtering has limited, slowed economic activities in cyberspace

IFP Editorial Staff -
Iran’s Minister of Economy says the internet filtering has damaged the country’s economy and urged relevant officials to lift the restrictive measure.
Economy

Iran’s non-oil trade with neighbors reaches $32.6 billion in first half of 2024

IFP Editorial Staff -
Mohammad Reza Rezvanifar, the head of Iran's Customs Administration, announced that Iran's non-oil trade with 15 neighboring countries reached 50 million tons, valued at $32.6 billion, during the first half of the current year.
Energy

Iran vice president slammed for saying subsidized gasoline price ‘unreasonable’

IFP Editorial Staff -
Iranian Vice President Mohammadreza Aref has been the subject of criticisms for saying on Sunday that importing gasoline price at high prices and selling it at heavily-subsidized prices is ‘unreasonable.’
Economy

Head of Securities and Exchange Organization of Iran steps down amid loan row, red market

IFP Media Wire -
The Chairman of the Board of the Securities and Exchange Organization of Iran Majid Eshghi confirmed on Saturday he resigned from the post after a long period that the markets have been in the red, and days into a reported row over low-rate bank loans he received.
Economy

Controversy surrounds billion-toman loans to Iran’s stock market board amid public outcry

IFP Editorial Staff -
Iranian media is abuzz with controversy after it was revealed that senior members of the country's Securities and Exchange Organization (SEO) granted themselves loans totaling 10.5 billion tomans. 
Economy

Official: Illegal import of iPhones costs Iran $900mn

IFP Editorial Staff -
Iran’s ban on importing iPhone cellphones has led to a capital flight of 900 million dollars to sneak the phones in high demand into the country through illegal channels and smuggling, the head of the country’s Association of Mobile Phone Importers says.
Economy

Iran’s president terms expansion of intl. interactions as key to resolving economic problems

IFP Media Wire -
Iranian President Masoud Pezeshkian has described the expansion of international interactions as a key solution to the country's economic challenges. He also emphasized his administration's endeavours to foster such cooperation and attract foreign investment.
Parliament

Iran president’s pick for trade ministry says ‘rise in non-oil exports’ on agenda

IFP Editorial Staff -
Iranian President Massoud Pezeshkian’s nominee for the ministry of industry, mine, and trade says developing exports and boosting the country’s trade balance through increasing non-oil exports is a top priority in his program.
Local

How will Haniyeh assassination affect Pezeshkian’s economic aspiration?

IFP Editorial Staff -
The assassination of the Palestinian resistance movement Hamas’ political chief Ismail Haniyeh on Wednesday in Tehran in an Israeli plot just a day after Iranian President Massoud Pezeshkian’s inauguration ceremony, casts a pall over the president’s economic agenda amid spiraling tensions, an Iranian daily warns.
Economy

Survey shows Iranians upbeat Pezeshkian administration able to tame inflation

IFP Media Wire -
A new poll found that a majority of Iranians are upbeat that the new Iranian President Masoud Pezeshkian and his administration can tame high levels of inflation in the country. The swearing-in ceremony for Pezeshkian was held at the Parliament on Tuesday.
Economy

Data: Iran’s non-oil exports rise 8.3 percent

IFP Editorial Staff -
Iran’s export of non-oil items has increased by $1.35 billion during the first four months of the current year on the Iranian calendar, staring on March 20, according to official figures.
Economy

Iran’s trade with neighbors hits $20bn mark

IFP Editorial Staff -
Iran’s trade with its neighboring countries has reached 20 billion dollars, showing a 6-percent increase in the past 4 months.
Economy

Iran’s currency strengthens after Pezeshkian wins presidential election

IFP Media Wire -
Iran’s national currency, the rial, is still in the doldrums having lost considerable value since last year – but it regained some lost ground at market open on Saturday. It comes after Reformist candidate Masoud Pezeshkian won Iran's presidential election, securing 53.3% of the votes and defeating his principlist rival Saeed Jalili
Economy

“Next Iran president should seek experts’ opinions on FATF”

IFP Editorial Staff -
In a recent statement, Ali Akbar Salehi, Iran's former Head of the Atomic Energy Organization, emphasized that whoever assumes the Iranian presidency will certainly have to seek the advice of experts on Iran's decision to join the Financial Action Task Force (FATF). 
Local

Iranian daily: Hyperinflation breaking people’s back, gov’t just keeps watching

IFP Editorial Staff -
Iran’s Jomhouri-e Eslami newspaper has blasted the Iranian government for what it called just standing idly by and watching while the cumbersome extreme inflation is affecting people’s livelihood.
Economy

Reoort: Raisi’s administration sets inflation record

IFP Editorial Staff -
Iran’s Ham-Mihan newspaper says the country has experienced its highest inflation in 80 years during the administration of President Ebrahim Raisi’s tenure.
Economy

Official: Iran has become regional economic, industrial hub

IFP Editorial Staff -
Iran’s Minister of Industries, Mines and Commerce Abbas Aliabadi says Iran has turned into a regional trade and industrial hub despite the Western sanctions.
Views

Iranian daily: Government’s economic reports in conflict with people’s daily life

IFP Editorial Staff -
Iranian President Ebrahim Raisi’s administration has failed to relieve people of the economic burden in their daily lives despite ‘promising’ reports released by the government, an Iranian newspaper argues.
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