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Financial Tribune

Iran chief banker stresses need for higher interest rates

The governor of the Central Bank of Iran reiterated that increasing interest rates is a compulsion.

Financial Markets

Iran expects an annual $14.7 billion sales of crude oil, derivatives

The government is projecting the sales of crude oil and its derivatives to earn 6,030 trillion rials ($14.75 billion) in the budget bill for the upcoming Iranian year (March 2023-24).

Energy

World Bank forecasts slowdown for Iranian economy in coming years

In a new report, the World Bank has forecast Iran’s economic growth to slow down in the years to come.

Macro Economy

Iran’s daily gas consumption hit 700 mcm

Gas consumption in the commercial and household sectors reached 700 million cubic meters per day on Jan. 12, the managing director of the National Iranian Gas Company said.

Energy

Iran slashes VAT on import of some basic commodities

The Islamic Republic of Iran Customs Administration has reduced value-added tax on the import of seven types of oilseeds and vegetable oils from 9% to 1%.

Macro Economy

Iran’s 11-month trade with US at $51.3 million

Iran’s trade with the US stood at $51.3 million during the first 11 months of 2022, registering a 37.53% rise compared with the previous year.

Trade

Iran’s Q1-3 trade with Caspian states tops $2.7 billion

Iran’s trade (excluding crude oil exports) with Caspian Sea littoral states reached 5.1 million tons worth $2.76 billion during the first nine months of the current Iranian year (March 21-Dec. 21), according to the Islamic Republic of Iran Customs Administration.

Trade

Iran to complete $8 billion worth of petroleum projects by late March

Several unfinished petroleum projects worth $8 billion are scheduled to be completed by the end of the current Iranian year (March 20, 2023), the 0il minister said.

Energy

Iran earns $8.7 billion in tax income in nine months

The government has earned 3,480 trillion rials ($8.73 billion) in tax income during the first three quarters of the current Iranian year (March 21-Dec. 21), according to the Economy Ministry.

Macro Economy

Iran’s nine-month foreign trade crosses $78 billion

Iran’s foreign trade, excluding crude oil exports, reached 106.79 million tons worth $78.84 billion in the current Iranian year’s first nine months (March 21-Dec. 21).

Trade

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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