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Press TV

IMF forecasts Iran economy to grow by 3% in 2022

The International Monetary Fund (IMF) expects the Iranian economy will continue to grow in 2022 despite continued pressure on the country because of American sanctions and the economic impacts of the coronavirus pandemic.

Macro Economy

Iran imposes 18% tariff on exports of raw steel, cement

Iran’s ministry of trade (MIMT) has imposed a tariff of 18% on exports of raw steel, cement and some key metals to prevent supply shortages and price rises that could cause problems for local industries.

Mine and Industry

Iran’s annual inflation at 40.2% in late March: SCI

The Statistical Center of Iran (SCI) has reported an annual inflation rate of 40.2% for the calendar year to March 20, a decline of 3.8% against the year to March 2021.

Macro Economy

Iran’s largest crude producer increases output by 600,000 bpd

The National Iranian South Oil Company (NISOC), which is the largest oil and gas company in the country in terms of output, says it has increased its production by nearly 600,000 barrels per day (bpd) compared to figures recorded in August.

Energy

Iran to unveil first budget car in early 2023

Iran will unveil a first home-made budget car in early 2023, says a senior government official, amid plans to boost the quality of cars produced inside the country and to make them more affordable for the public.

Mine and Industry

Russia, Iran hold business forum in Moscow to expand ties

Russia has hosted a business forum attended by a large Iranian delegation as the two countries seek to expand their trade and economic cooperation.

Trade

Iran to generate 58 GW of electricity to meet demand in peak summer days

Iranian Energy Minister Ali Akbar Mehrabian says the country has plans to add some 6 gigawatts (GW) of electricity to the power generation capacity so that it will be able to meet demand in summer peak days.

Energy

Iran’s oil and gas reserves estimated at 1.2 trillion barrels

Iran has the equivalent of over 1.2 trillion barrels of oil and gas as a senior Oil Ministry official says the country will be able to tap those reserves for at least a century from now.

Energy

Iran raises oil selling prices for Asian buyers in April

The National Iranian Oil Company (NIOC) has increased its crude oil selling prices for Asian buyers in April amid a global surge in oil prices and after rival regional producer Saudi Arabia announced similar hikes earlier this month.

Energy

Iran’s 11-month steel exports up 17% YOY

Official figures suggest that Iranian steel exports have ramped up in the 11 months to February 19.

Mine and Industry

Iran Chamber of Commerce, Industries, Mines and Agriculture

Established in 1884, Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA) is a non-profit and non-governmental institution which aims at facilitating economic growth and development in the country. Iran Chamber tries to further coordinate the activities of the private sector. As an economic forum, representatives from both the government and the private sector attend Iran Chamber's sessions. Meanwhile the institution acts as an advisory body to the government, parliament and judiciary.

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