Iran Economy

The latest news and views about the economy of Iran

IFP Exclusive

Bitcoin, Other Cryptocurrencies Not Recognized in Iran: Central Bank

IFP Editorial Staff -
The Central Bank of Iran says it has never recognized bitcoin and other cryptocurrencies as official currency within the boundaries of the Islamic Republic and conducts no transactions in them.
IFP Exclusive

Iran’s Former Economy Minister Wins Prestigious Lee Kuan Yew Prize

IFP Editorial Staff -
Iran’s former minister of economy and finance, Ali Tayyeb-Nia, has been awarded the prestigious Lee Kuan Yew Prize, said Singapore’s Ministry of Foreign Affairs in a letter to Iranian embassy in Singapore.
Media Wire

Iran Parliament Passes Rouhani’s Budget Bill after Amendments

IFP Media Wire -
Iran’s parliament has passed general outlines of President Hassan Rouhani’s new budget bill after initially rejecting it over concerns that the proposed cuts could hit vulnerable people the hardest.
IFP Coverage

Iran Parliament Rejects Framework of Rouhani’s Proposed Budget

IFP Editorial Staff -
The Iranian Parliament on Sunday disapproved the framework of the budget proposed by the Rouhani administration for the upcoming fiscal year (March 2018-19).
Media Wire

Iran Arrests Suspects behind Volatility of Exchange Market

IFP Media Wire -
Police in Tehran have shut down several currency exchange shops and arrested a number of money changers suspected of being behind a recent turmoil in exchange rates.
IFP Exclusive

Unemployment Rate Down, Economic Growth Rate Up in Iran

Fatemeh Askarieh -
Mohammad Baqer Nobakht, the spokesman for the Iranian government, says the country's unemployment rate has decreased and economic growth rate has increased during the past Iranian fiscal year.
Translated by IFP

Iran’s Foreign Exchange, Gold Reserves More than US: CIA

IFP Editorial Staff -
A document released on the website of the US Central Intelligence Agency shows that the Islamic Republic outstrips the United States in terms of reserves of foreign exchange and gold.
Media Wire

Iran’s Forex Revenues Outstrip Expenses: President Rouhani

IFP Media Wire -
Iranian President Hassan Rouhani assured the nation that the country’s foreign exchange revenue far outstrips the spending, stressing that foreign exchange reserves will even grow in future.
Media Wire

Rouhani Vows to Tackle Livelihood Problems as Top Priority

IFP Media Wire -
president Hassan Rouhani said improving the economic situation of Iranians tops the agenda of his government, in an attempt to appeal to the public, which has grown increasingly critical of his economic performance.
IFP Exclusive

Iran Parliament Okays $50bn in Financing for Next Year’s Budget Bill

IFP Editorial Staff -
Iranian parliamentarians have given the go-ahead to “financing” sources of income proposed by the government in next fiscal year’s budget bill.
IFP Exclusive

Removing US Dollar from Int’l Transactions to Facilitate Banking Ties: Iran

IFP Editorial Staff -
An Iranian lawmaker believes that the removal of the US dollar from Iran’s international transactions could facilitate banking relations.
IFP Exclusive

‘China, Russia Backing Iran at Expense of Tehran’s Trade Growth’

IFP Editorial Staff -
A journalist says Russia and China’s support for Iran comes at the expense of Tehran’s trade and industrial development.
IFP Exclusive

Tehran Stock Exchange Market Unaffected by Trump’s Speech

IFP Editorial Staff -
Unlike earlier estimations, Tehran Stock Exchange market has not only remained unaffected by the anti-Iran rhetoric of US President, but also has ridiculed his rhetoric by showing a significant growth in some terms.
IFP Exclusive

Iran’s Economic Growth Rate Stands at 12.5 Percent: IMF

IFP Editorial Staff -
The International Monetary Fund has in its latest World Economic Outlook announced that Iran's economic growth rate in 2016 was 12.518% year-on-year and its unemployment rate rose to 12.450%, while the inflation rate fell to 9.03%.
IFP Exclusive

Deregulation; Best Way to Save Iran’s Economy

IFP Editorial Staff -
An Iranian analyst believes deregulation of the Iranian economy is the most suitable solution for strengthening the country's economy.
IFP Exclusive

Oil Extraction in Front of Customers: New Lucrative Business in Iran

IFP Editorial Staff -
Extracting vegetable oil in front of customers has turned into a booming business in recent years in Iran as it is profitable and does not need much investment.
IFP Exclusive

Iran, Saudi Arabia Trade Volume Stands at Zero: Official

IFP Editorial Staff -
An Iranian official says the trade volume between Iran and Saudi Arabia stands at zero and the two sides have no economic relations with each other.
IFP Exclusive

Which Markets in Iran Are Most Profitable?

IFP Editorial Staff -
Which are the most profitable markets for investment in Iran? This is perhaps the main question lingering in the minds of all investors and even those who are seeking to launch a business in Iran with their savings.
IFP Exclusive

Tehran, Seoul Keen to Expand Business Ties: Larijani

IFP Editorial Staff -
Iran’s Parliament speaker says the Islamic Republic and South Korea have great potentials for investment and job creation, and both are interested in expanding their trade cooperation.
IFP Exclusive

Foreign Clothing Brands Given Ultimatum for Operation in Iran

IFP Editorial Staff -
An official at the Iranian Ministry of Industry, Mine and Trade says an ultimatum has been given to the foreign clothing brands operating in Iran to increase their production in the country and boost exports of their products from the Islamic Republic.
Media Wire

Iran Will Soon Join Eurasian Economic Union

IFP Media Wire -
Signs are emerging that show the Eurasian Economic Union (EEU) – the Russia-led single market – is seeking deeper links with Iran after the re-election of President Hassan Rouhani.
IFP Exclusive

Iran’s Global Standing Improved in 11 Indices in Rouhani’s Term

IFP Editorial Staff -
Assessments and reports by international organizations indicate an improvement in Iran’s performance and ranking in most of the international economic indices during 2013-16, the period of time when President Hassan Rouhani was in office.
IFP Exclusive

Qalibaf Vows to Form “Ministry of Foreign Affairs, Int’l Trade”

IFP Editorial Staff -
Iranian presidential candidate Mohammad Baqer Qalibaf says, if elected, he will turn the foreign ministry into the “Ministry of Foreign Affairs and International Trade” so that the foreign policy apparatus can help improve Iran’s domestic economy.
Media Wire

Economy Likely to Be Most Pressing Theme in Iran Election Campaigns

IFP Media Wire -
With nominations now closed for the May 19 presidential election in Iran, the likely shape of the contest is beginning to emerge.
Europe

78% Increase in Iran-EU Trade Transactions

IFP Editorial Staff -
Trade transactions between Iran and the European Union (EU) reached €13.744 billion in 2016, showing a 78-percent growth compared to the figure for 2015.
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