Economy

iranintl – This week, Iran’s new president, Masoud Pezeshkian, pledged an “economic surgery” to address the nation’s worsening crisis. With millions of impoverished citizens expecting relief, he faces mounting pressure to deliver reforms. “If people know what is in their interest, they will leave themselves in the hands of an expert surgeon…Naturally, we have to have surgeries in many areas …

iranintl – Exposing Iran’s ruling elite, the pro-reform Shargh daily has revealed a letter detailing how five officials appointed under President Ebrahim Raisi granted themselves loans totaling 105 billion rials ($175,000). The officials, members of the Supreme Council of the Stock Exchange, orchestrated the generous loans with lenient repayment periods and minimal interest rates while Iran’s economy remains on the …

VOA – Pakistan Federal Minister for Petroleum Musadik Malik said Wednesday that international sanctions have caused complications for the Iran-Pakistan cross-border natural gas pipeline project. Media outlets reported that Iran had warned Pakistan to complete its part of the project or face an $18 billion penalty — news that sparked a debate days later in Pakistan’s lower house, the National …

Iranwire – As the new school year approaches, Iranian families face mounting concerns over the rising costs of school supplies.  Mohsen Golestani, head of the Tehran Stationery Union, has revealed the factors contributing to the price hikes in an interview with the Mizan news agency. Power outages during the crucial summer production season have significantly disrupted the manufacturing of stationery …

iranintl – Iran’s Supreme Leader has approved diverting over $5.8 billion from the National Development Fund (NDF)—initially reserved for the nation’s future—to settle the government’s immediate debts to wheat farmers and truck drivers. The Supreme Council of Economic Coordination announced on September 1 that the NDF’s share from oil and gas revenues, initially set at 40% of oil income, will be …

iranintl – An economist in Tehran says members of President Masoud Pezeshkian’s economic team are not on the same page, as the government must deal with a massive economic crisis gripping the country since 2019. Hamid Haji-Esmaili told the press this week, that although nearly all the economists chosen by the President have joined his team, they lack coordination. However, the …

Iranwire – Iranian President Masoud Pezeshkian said that it was “irrational” for the government to sell imported petrol at heavily subsidized rates while struggling to fund essential services. His comments come amid growing speculation about potential price hikes. He said, “A government that lacks funds for essential items such as medicine, wheat, livestock feed, and retirees’ salaries cannot afford to …

Al-Arabia – President Masoud Pezeshkian said in a video published on Tuesday that fuel subsidies made no sense in Iran, a major oil producer with a struggling economy that has faced protests in the past over price hikes. “There is no rationality in the fact that we buy gasoline with free market dollar prices and we sell it with a …

iranintl – As labor protests in Iran gain momentum, oil and gas workers have joined the movement, underscoring the deepening concerns over economic and working conditions across the country. The staff at the refineries of the South Pars Gas Complex (SPGC) organized a protest gathering on Tuesday, driven by economic grievances and the incomplete payment of wages, as they sought …

Iranwire – Recent continuous power outages in industrial towns around Tehran have led to street protests. Mehdi Bostanchi, head of the Coordination Council of Industrial Towns, reported that demonstrations took place in Khavaran Industrial Town, Tehran’s largest industrial zone, following a power cut on Monday. Bostanchi warned officials, “Don’t cut off the power to the industries. Small and medium industries in …