The Iranian government has granted around $1.5 billion worth of cash subsidies to more than 23.6 million households in the country as part of efforts to cushion shocks that could be caused by price hikes in consumer goods.
In the latest ranking of the world’s largest economies by the International Monetary Fund (IMF), Iran is ranked 20th and stands higher than many European countries such as Poland, the Netherlands, Argentina, Switzerland, Belgium, and Austria.
Iranian First Vice President Mohammad Mokhber reassured the people that the government subsidies for bread and medicine will not be removed.
Iranian agriculture ministry (MAJ) plans to ramp up imports of cooking oil into the country to prevent any shortages that could be caused by the military conflict between Russia and Ukraine.
Iran’s total foreign debt up to the end of the Iranian calendar month of Bahman (February 19) stood at $8.88 billion, according to a Monday report by the country’s central bank.
Abbas Me’marnejad, a well-known economic analyst, says Iran with a foreign debt of $8.4 billion, is the world’s seventh least indebted country considering the country’s gross domestic product (GDP).
Supreme Leader of the Islamic Revolution Ayatollah Seyed Ali Khamenei addressed the nation on the occasion of the Persian New Year (Nowruz), stressing the need for increasing efforts to strengthen knowledge-based production and create more jobs.
A Monday report by the Central Bank of Iran (CBI) suggests that Iran’s economic growth reached 5.7% in the third quarter of the current Iranian calendar year (September 23 – December 21, 2021) putting the country’s overall economic growth in the nine months to December 21, 2021 at 4.1%.
The Statistical Center of Iran’s newly released data show the economy grew by 5.1% in Q1-3 of the current fiscal year (March 21-Dec. 21, 2021) compared with the preceding year’s corresponding period.
Iran has increased minimum wage payable to workers by 57.4% as a government that came to office in August moves ahead with plans to bridge economic gaps for low-paid people in the country.