Economy

rferl.org – A senior hard-line Iranian cleric has called for the execution of “several key money changers” to help end the country’s currency crisis.

rferl.org – Hundreds of farmers have demonstrated in the Iranian city of Isfahan over the lack of water available to irrigate their fields.

Radiofarda – A prominent Iranian economist says 33 percent of the country’s population live in absolute poverty, and six percent are starving.

Iran-HRM – A researcher and university professor announced the absolute poverty line for a four-person urban family in 2017 as about four million tomans (1,200 USD) adding that according to calculations in recent years, 33 percent of the population of the country suffers from “absolute poverty.”

VOA — Iran unified the country’s official and open market exchange rates, state media said, after its currency, the rial, plunged to an all-time low on Monday on concerns over a return of crippling sanctions.

Al-Monitor – Following intense tripartite negotiations, the Iranian government, employers and unions agreed to increase the country’s minimum wage by 19.8%, from 9.29 million rials ($245) per month to 11.14 million rials ($294.50). The deal will see the highest year-on-year growth in real terms since 2002. Workers and labor unions have scored this victory as the Iranian economy still reels …

Radiofarda – Iran’s currency took another big hit, falling between 6-9 percent on Sunday, extending a slide to a new record low on continued concerns over a return of crippling sanctions if U.S. President Donald Trump carries out his threat to exit a nuclear deal with Tehran. The U.S. dollar jumped to as much as 58,000 rials on the open …

Al-Monitor – The Iranian rial has lost about a third of its value over the last year, burnishing claims that the economy is stumbling. But while the devaluation is concerning, it does not point directly to real economic weakness. As such, it looks less like a hedge to protect assets and more like a bubble in which Iranians are investing …

PayvandNews – Russian investment in developing Iran’s oil and gas fields could total more than $50 billion, presidential aide Yuri Ushakov has said.   “Energy is the most promising sphere for cooperation between Russia and Iran. Leading Russian oil and gas companies such as Gazprom, Gazprom Neft, Rosneft, Lukoil, Zarubezhneft and Tatneft are systemically working on development of fields in Iran. 

Radiofarda – The Islamic Revolutionary Guards Corps (IRGC) says that foreign powers are undermining the Iranian economy by suggesting the regime is helpless to fix economic problems.