Latest figures by the Statistical Center of Iran (SCI) show inflation in the country continued to rise in January to reach an annual rate of 46.3%.
The governor of the Central Bank of Iran reiterated that increasing interest rates is a compulsion.
Iranian Minister of Economic Affairs and Finance Ehsan Khandouzi said on Monday that the country plans to increase tax revenues by 50% in the fiscal 2023-24.
In a new report, the World Bank has forecast Iran’s economic growth to slow down in the years to come.
Iranian administrative government has submitted a bill to parliament that outlines details of a state budget for the calendar year 1402 starting in late March.
Central Bank of Iran (CBI) figures show manufacturing activity in the country rose by 6.6% in the two quarters to late September last year compared to the same period in 2021.
A significant part of the 50% rise in tax income owes to high inflation, which is expected to remain above 40%.
The average annualized inflation in the ninth month of the current Iranian year (Nov. 22-Dec. 21) stood at 45%, the Statistical Center of Iran announced in a new report released on Thursday.
Iran’s economy grew by 3% in the first half of the current Iranian year (March 21-Sept. 22) compared with the similar period of last year, the Central Bank of Iran said in a report released on Dec. 22.
Iran’s gross domestic product (GDP) excluding oil grew 3.4 percent in the first six months of the current Iranian calendar year (March 21 – September 22) compared to the same period last year, according to the Statistical Center of Iran (SCI).