Domestic Economy

Iran raises prices of four essential food items

The Iranian government has approved major price hikes for four essential food items as part of a plan to liberalize prices by removing subsidies given to importers and suppliers and redirecting them to the households.

Society Economy

Iran grants $1.5 billion to 23.6 million households as new subsidy scheme

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.

Macro Economy

IMF ranks Iran 20th among world economies

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.

Macro Economy

Iran not to remove bread, medicine subsidies: VP

Iranian First Vice President Mohammad Mokhber reassured the people that the government subsidies for bread and medicine will not be removed.

Macro Economy

Iran to ramp up cooking oil imports to prevent domestic shortages

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.

Trade

Central Bank puts Iran’s foreign debt at $8.88 billion

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.

Macro Economy

Iran world’s 7th least indebted country: Economic analyst

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).

Macro Economy

Iran Leader reiterates need for knowledge-based production, creation of jobs

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.

Macro Economy

Report puts Iran’s nine-month economic growth at 4.1%

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%.

Macro Economy

Iran’s nine-month economic growth hit 5.1%

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.

Macro Economy