Economy

Radiofarda – Nearly two dozens Iranian taxi drivers have died of COVID-2 and hundreds have been infected across the country, the Managing Director of Tehran Municipality’s Taxi Company, Morteza Zameni, said on Monday. Besides being in danger of contracting the virus and losing their lives, taxi drivers have taken a hit from the social distancing measures that have considerably reduced …

Radiofarda – Five thousand labor and civic activists in Iran have issued a statement demanding renegotiation over a minimum wage decision announced by the government on April 9. According to the law, a tripartite commission of government officials, employers and workers should negotiate the minimum wage for workers and laborers every year. This year, the government and employers agreed on …

gatestoneinstitute.org – The U.S. Embassy wrote in a Facebook post: “The possessions of the current supreme leader Ali #Khamenei alone are estimated at $200 billion, while many people languish in poverty because of the dire economic situation in #Iran after 40 years of rule by the mullahs.” If the Iranian leaders are so concerned about the public health, why they …

Al-Monitor – Iran’s Supreme Leader Ayatollah Ali Khamenei permitted on April 6 the administration of President Hassan Rouhani to withdraw 1 billion euros ($1.1 billion) from Iran’s National Development Fund to address the negative economic impact of the coronavirus outbreak. The move comes after weeks of disbelief in the government’s circle and passivity in dealing with the economic impact of the pandemic. …

Radiofarda – A group of metalworkers in Iran have written to President Hassan Rouhani saying they cannot afford items to protect themselves against the coronavirus “because thanks to you and governments before you we have become poorer everyday and our purchasing power has diminished”. The letter published by the labor news agency ILNA on April 12 says a multitude of …

Radiofarda – The Iranian administration’s spokesperson, Ali Rabiei, says the coronavirus outbreak has adversely affected the employment situation of 7.3 million Iranians. In a commentary he wrote for the semi-official news agency ISNA on Saturday April 11, Rabiei said that the outbreak has affected 3.3 million full-time employees and 4 million self-employed workers in Iran. The estimate is less than …

Radiofarda – After weeks of delays the Iranian government has offered workers a relatively small salary adjustment, which is half of the country’s 41 percent inflation rate. The government announced the minimum net monthly wage for the next 12 months to be a little more than 18 million rials. That sounds big, but according to the real, free market exchange …

RFL/RE – Representatives of OPEC, Russia, and other oil-producing countries have outlined a plan to cut production, a move meant to stabilize the global oil market shaken by the coronavirus pandemic.The group, known as OPEC+, said on April 9 after a nine-hour negotiating session that the plan calls for a cut in output by more than a fifth — about …

Al-Monitor – The United States opposes Iran’s request for a $5 billion emergency loan request from the International Monetary Fund (IMF) to help it cope with the coronavirus pandemic, Al-Monitor has learned. “The world’s leading state sponsor of terrorism is seeking cash to fund its adventurism abroad, not to buy medicine for Iranians,” a State Department spokesperson told Al-Monitor. “The …

Radiofarda – The quandary facing Iran’s government regarding a lockdown to contain Covid-19 or resuming business activities continues in full-force, as President Hassan Rouhani and some of his ministers fear a long, drawn-out economic shutdown. Following several days of speculations by the media and disputes among members of the government Rouhani announced on Sunday April 5 that “low-risk businesses” can …