Saturday, May 18, 2024

Iran Economy

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

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.

Reoort: Raisi’s administration sets inflation record

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.

Official: Iran has become regional economic, industrial hub

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.

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

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.

Iran says beats sanctions, economic growth exceeds 6 percent

The Iranian economic and financial affairs minister says the country experienced a growth rate of over 6 percent in economy during the past year.

IMF revises up economic growth projection for Iran in 2023

The International Monetary Fund (IMF) has revised up its previous economic growth projection for Iran in 2023, attributing it to a higher-than-expected increase in Tehran’s oil output.

Official says Iran in talks with several countries to set up joint free zones

Secretary of Iran’s Supreme Council of Free Trade-Industrial and Special Economic Zones Hojjatollah Abdolmaleki has said negotiations are underway between Tehran and 21 states to launch joint free zones.

Official says Iran’s trade with SCO states climbed 5.5%

Tehran’s international trade with the Shanghai Cooperation Organization (SCO) has increased to over $37 billion in the first 10 months of the current Iranian calendar year starting on March 21, 2023, an Iranian official has stated.

IMF says Iran’s economy registered 5.4% growth last year

The International Monetary Fund (IMF) in its latest report put Iran’s economic growth in 2023 at 5.4 percent.

Official: Iran’s non-oil exports hit $36bn

Iran’s non-oil exports have reached $36bn over the past nine months.

Official: Iran’s non-oil exports hit 54.6 billion dollars

The head of the Customs Organization of Iran says the country’s non-oil exports hit 54.6 billion dollars in the first half of the Persian year of 1402, starting on March 21, 2023.

Analyst: Fixing Iran economy contnigent on JCPOA, FATF

A Tehran-based  international expert says that the key to reviving Iran's stagnant economy lies in resolving the issues surrounding the Joint Comprehensive Plan of Action (JCPOA), the International Atomic Energy Agency (IAEA), and the Financial Action Task Force (FATF).

Iran exported over 3mn metric tons of food products in 5 months: Report

Iran has exported more than three million metric tons of food products in the first five months of the current Iranian calendar year (March 21-August 22), which shows a 19% increase in value compared to the same period last year, according to a report.

IMF revises up its 2023 economic growth forecast for Iran

The International Monetary Fund (IMF) has revised up its 2023 economic growth forecast for Iran amid its better oil exports and despite the continued pressure of the US sanctions.

Central Bank says Iran’s foreign debt shrank by 27%

Iran’s foreign debts were reduced to $6.282 billion in the last Persian calendar year (ended on March 20), showing a 27.6 percent decrease compared to a year before, according to a report by the Central Bank of Iran (CBI).

IMF predicts Iran’s inflation to shrink in 2024

A report by the International Monetary Fund (IMF) says that the soaring inflation rates in Iran will fall significantly with an increase in demand for Iranian oil in major Asian economies and amid a gradual drop in consumer prices across the globe.

Iran emerges as biggest crude steel producer in West Asia: Report

The latest data released by the World Steel Association (WSA) show that Iran’s production of crude steel has accounted for 70% of the total output in the Middle East region during the first five months of the current year.

Official: Iranian businesses expect big jump in trade with Arab states

Iranian businesses believe trade with Arab countries of the Persian Gulf could see a jump in the near future amid a political rapprochement between Tehran and Riyadh, an official with Iran's private sector says.

1st VP: Iran’s asset frozen by US bans released in some countries

Iran’s First Vice President Mohammad Mokhber says the country’s assets frozen by US sanctions have been released in some countries, and that Tehran is making efforts to get access to the rest.

Economist claims Iran inflation under Raisi set new record high since WWII

An Iranian economist criticizes President Ebrahim Raisi’s handling of the country’s economic issues, claiming that the inflation set a record high in eight decades under his administration.

Iran’s economy grew by 4.7% in fourth quarter of 2022: World Bank

Figures released by the World Bank show that Iran's economy grew by 4.7 percent in the fourth quarter of 2022, standing at 15th place in the globe in terms of economic growth.

World Bank projects 2.2% economic growth for Iran despite sanctions

The World Bank (WB) has predicted that Iran’s economy will register a 2.2 percent growth in 2023 in spite of tough US sanctions.

Iran’s Central Bank governor meets IMF chief in Washington

The governor of the Central Bank of Iran (CBI) holds a meeting with the managing-director of the International Monetary Fund (IMF), Kristalina Georgieva, in Washington for talks on ways to expand bilateral interactions and cooperation.

Iran to soon gain quick access to $6.7 billion of its financial resources at IMF: CBI chief

Governor of the Central Bank of Iran (CBI) Mohammadreza Farzin says the country will soon acquire quick access to $6.7 billion of its financial resources at the International Monetary Fund (IMF).

Iranian lawmaker rips into Raisi administration over runaway inflation

An Iranian lawmaker has criticized the President Ebrahim Raisi administration’s “incompetence” for failing to contain high inflation.

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