Domestic Economy

Iran to keep subsidized FX for medicine as it weighs currency reform

Iran will continue allocating a subsidized exchange rate for medicines and has yet to take any new decision on the sector as it considers moves toward a single exchange rate, Economy Minister Ali Madanizadeh said on Monday.

Iran Economy

Business leader warns against hasty single exchange rate without safeguards for poor

A senior Iranian business leader has endorsed the government’s push to unify the country’s complex multi-tiered currency system but warned the move must be carefully calibrated and preceded by substantial, targeted support for low-income citizens.

Iran Chamber

Iran appoints Hemmati as new central bank governor

President Masoud Pezeshkian has appointed Abdolnasser Hemmati as governor of the Central Bank of Iran, replacing Mohammadreza Farzin.

Iran Economy

Iran submits new budget bill to parliament, cuts oil reliance

President Masoud Pezeshkian submitted the government’s budget bill for the next fiscal year to parliament on Tuesday, a proposal some lawmakers have described as the most contractionary in the country’s history, aimed at curbing inflation and moving toward a zero budget deficit within two years.

Iran Economy

Iran Chamber chief warns of heavy tax pressures ahead of budget

The president of Iran Chamber of Commerce on Monday called on the government to take urgent steps to prevent an “alarming” rise in the tax burden on businesses before the draft budget for the next financial year is submitted to parliament.

Iran Chamber

Iran’s economy expands slightly in first half of calendar year

The Iranian economy expanded slightly in the first half of the calendar year that began in late March 2025, according to figures from the Statistical Center of Iran (SCI).

Macro Economy

Iran says tax-to-GDP ratio hit seven-year high in last fiscal year

Iran’s top tax official said on Tuesday the country’s tax-to-GDP ratio rose to its highest level in seven years in the last fiscal year, signaling a stronger role for taxation in the economy.

Macro Economy

Guardian Council approves plan to remove four zeros from Iran’s currency

The Guardian Council has approved a long-debated plan to remove four zeros from Iran’s national currency, Hadi Tahan Nazif, the Council’s spokesperson, says.

Financial Markets

Iran’s annual inflation up 1.4% to 38.9% in October

Iran has reported a slight rise in its annual inflation rate in the calendar month to late October.

Macro Economy

Iran reports slight fall in jobless rate in Sep quarter

Figures by the Iranian government’s statistics agency show that the unemployment rate in the country fell slightly in the quarter to September 22 compared to the same quarter in 2024.

Macro Economy

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Iran will continue allocating a subsidized exchange rate for medicines and has yet to take any new decision on the sector as it considers moves toward a single exchange rate, Economy Minister Ali Madanizadeh said on Monday.

Iran to keep subsidized FX for medicine as it weighs currency reform