Tuesday, September 17, 2019 12:32

Iranian economy

Rohani deputy slams former administration over oil revenues

Eshagh Jahangiri, the chief deputy to President to Hassan Rohani, says Iranian economy was " at the bottom of the pit" when the new administration took over, but they have managed to "lift it ten steps" closer to the top. » read more

Minister calls big currency swings a thing of the past

As the national currency continues to fall against the dollar, Iran’s Minister of the Economy says he is not too concerned about the rise in the exchange rate, adding that sharp fluctuations will no longer occur. » read more

Rohani credits his government policies for Iran’s economic improvement

Iranian President Hassan Rohani says his government succeeded in reducing the rate of inflation from over 40 percent to 17 percent within 16 months. » read more

New rules change interest paid on deposits

New central bank directives have put an end to the payment of daily interest on deposits, and only a minimum one-year deposit is allotted interest at 22 percent. Reports indicate, however, that some financial institutions are still offering daily interest rates at 27 percent per annum. » read more

Rohani touts inflation control, promises more

Iran’s president told the Iranian Parliament on Sunday December 7 that in the new Iranian calendar year, inflation will drop below 20 percent. » read more

Central bank lauds economic stability under Rohani

The head of Iran’s Central Bank says the Rohani administration has succeeded in establishing economic stability, adding that in the coming year, inflation will be reduced to 15 percent. Valiollah Seif assured the public there will no longer be sudden fluctuations in the Iranian market. » read more

Iran's next budget adjusted for continued sanctions, low oil price

Iran’s Minister of Economics has announced he is prepared to present the country’s budget to Parliament now that the outcome of Iran’s nuclear talks has determined that international sanctions will persist. The budget for the coming year reportedly assumes an oil price of $70 per barrel. » read more

Iranian government adjusts for impact of lower oil prices

Iran’s oil minister says the administration will implement a contractionary monetary policy and is looking to withdraw money from the National Development Fund. » read more

Iran’s inflation rate has dramatic fall

Iran’s Central Bank says the inflation rate has been cut in half compared to the same time last year, falling to 20.1 percent. The report adds that health services have been hit with the highest inflation at 30.1 percent, with transportation trailing at 25 percent. » read more

Private homes hold more gold than Central Bank

The lack of a clear outlook on the Iranian economy has led Iranians to store large quantities of gold in their home, and recent reports indicate that the amount of gold stored in homes now exceeds the amount in the Central Bank. » read more