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. One day after parties agreed on extending the […]
Tag: Iranian economy
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. The Shahrvand Daily reports that according to Gold and Jewelry Producers and […]
Women can play larger role in Iranian economy
Structural reforms to facilitate entrepreneurship by Iranian women would be a boost for Iran’s economic growth. Iran is facing a socioeconomic issue in women’s unemployment. According to an article published in the March 2014 issue of Iran Economics, only 13% of the workforce consists of women and the latest official statistics for women’s unemployment […]
Rohani touts achievements during Revolution anniversary
Iranian President Hassan Rohani marked the anniversary of the 1979 Revolution among demonstrators who defended the report card of his administration. Iranian media report that on the 35th anniversary of the Revolution, Rohani told marchers that as a result of his government’s six months in power, the country has become more peaceful and the […]
Iranian gov’t rejects Ahmadinejad’s debate challenge
In response to Mahmoud Ahmadinejad’s invitation to a public debate, the spokesman for the Hassan Rohani administration was quoted as saying: “The government has no time for such things.” ISNA reports that Mohammad Baqer Nobakht told reporters that Ahmadinejad must accept that the statistics released by the Census Organization speak for themselves and that […]
Iranian finance minister says scrapping sanctions won’t be a cure-all
Iran’s minister of economic and financial affairs says the elimination of sanctions against the Islamic Republic is a long-term consideration that the government should not focus on to resolve its current problems. Ali Tayyebnia said on Sunday Oct. 6; “To think that sanctions will be lifted in the near future and all problems will […]
Central Bank chief says Iranian rial must rise no more
Valiollah Seif, the head of Iran’s Central Bank, announced on Tuesday September 24 that the bank will not allow the Iranian currency to keep rising in value. Seif claimed that a drop in the exchange rate for the dollar could have a negative impact, and the Central Bank will not permit it to drop below […]
Iranian auto parts workers cut down by poor economy
Iran’s automotive sector announced today, July 21, that close to 122,000 workers in auto parts factories have lost their jobs in the past year. A spokesman for the Automotive Parts Manufacturers’ Association said that since last year, economic fluctuations have forced many production units to lay off between 30 to 50 percent of their […]