Iran’s ministry of agriculture says this year’s domestic wheat purchases have reached a milestone of 10 million metric tons (mt).
The process to unblock Iran’s funds in South Korea that have started under an emerging prisoner swap deal between Iran and the US would take at least four weeks, according to a report published by a local Iranian news agency.
Iran’s crude oil exports has already hit a target set in the country’s annual budget law despite US sanctions as authorities expect even higher sales could boost government finances and help finish major infrastructure projects.
Iran has reported a major surge in domestic wheat purchases with an official in the country’s agriculture ministry (MAJ) saying that purchases have risen by 37% in the harvest period between April and early August compared to the same period last year.
Iran is planning to increase its trade relations with countries in Eastern Europe as a senior official says Tehran wants to capitalize on increase agricultural exchanges and barter trade with countries in the region.
Iran has significantly cut its rice imports this year as figures provided by the country’s customs office (IRICA) show shipments nearly halved in value terms in the four calendar months to late July.
The International Monetary Fund (IMF) has revised up its 2023 economic growth forecast for Iran amid better oil exports from the country and despite the continued pressure of American sanctions on the economy.
Iran’s tax revenues reached the equivalent of $4.5 billion in the four months to July 22, an increase of 50% compared to the same period last year, according to figures by the Iranian National Tax Administration (IRICA).
Figures by the Statistical Center of Iran (SCI) show inflation rate in the country reached 47.1% in the year to late July, down 1% from the same figure reported for the year to late June.
Figures by the Organization of Petroleum Exporting Countries (OPEC) show that Iranian oil export revenues rose by 67% last year despite continued pressure of American sanctions on the country.