Economy

Radiofarda – A high-ranking official of the Supreme Leader’s Office announced January 21 that conglomerates controlled by military and religious entities under Supreme Leader Ali Khamenei’s direct supervision are taking steps to be listed on Tehran’s stock exchange. Mohammad-Javad Iravani who is the Deputy of Supervision and Auditing of Leader’s Office was referring to what is believed to be the …

Radiofarda – The latest report on inflation by Iran Statistical Center (ISC) says foodstuff prices have climbed 30 percent compared with last year, in an unrelenting trend of rising inflation and prices in the sanctions-hit country. ISC is the only entity issuing sporadic economic reports in Iran since March 2019, when the Central Bank and other government offices stopped issuing …

Radiofarda – Treasury Secretary Steven Mnuchin said Wednesday the United States believes international sanctions on Iran will be swiftly reimposed now that France, Britain and Germany have formally triggered a mechanism to help enforce Iran’s nuclear agreement. European Union Foreign Policy Chief Josep Borrell on Tuesday announced that Germany, France and the UK have launched action under the Iran nuclear …

VOA – The U.S. placed more sanctions on Iran Friday in response to its missile attack on U.S. military troops in Iraq last week, and it threatened further action to weaken Iran’s economy if Tehran continues to carry out what it considers terrorist actions. Treasury Secretary Steve Mnuchin said at a White House news conference the new sanctions target Iran’s …

Radiofarda – Iran’s parliament speaker told lawmakers on January 7 that Supreme Leader Ali Khamenei last night authorized the allocation of 200 million euros of additional budget to the Qods Force in the next two months, to counter U.S. threats. Ali Larijani made the remarks before a triple-urgency bill called “Counter-Measures Against U.S.” was put to vote. Iran’s Revolutionary Guards …

Radiofarda – The main index of Tehran Stock Exchange (TSE) plunged by more than 3% within five minutes from the opening of trade on Saturday, the first working day of the week in Iran, while the Iranian rial lost more of its value against the dollar and crude oil prices went up in international markets. The drop is in reaction …

Radiofarda – A newspaper in Iran has reported that the higher gasoline price announced in November has paralyzed the country’s family fishing industry, affecting 60,000 fishermen. Iran, which is under immense financial pressures due to U.S. sanctions tripled state gasoline prices on November 15 to around 22 US cents a liter or 83 cents a gallon. Even though prices were …

Radiofarda – In a report published on December 25 Iran’s Majles Research Center, an influential parliamentary think-tank, said next year’s budget bill has only been balanced on paper. The report says the budget for the next fiscal year (starting March 21, 2020) will be 50 percent in deficit despite plans to issue government bonds as well as borrow from the …

Radiofarda – Nearing the Financial Action Task Force (FATF) deadline of February, Iranian president’s Chief of Staff Mahmoud Vaezi warned about the consequences of being blacklisted by the international watchdog. Being blacklisted by the FATF will “deal a heavy blow” to Iran’s economy, Vaezi who was speaking at an official meeting in Ardabil Province on Tuesday said and underlined that …

Al-Monitor – Iran’s parliament is studying a proposed budget for the next fiscal year amid an extremely tight economy suffering under intense US sanctions. One important aspect of this proposal is Foreign Ministry funding, which has been under increased pressure from both proponents and opponents of President Hassan Rouhani’s administration. Rouhani’s critics argue that Foreign Minister Mohammad Javad Zarif has been focused …