Economy

Iran-HRM – Deputy of the municipality organization has said that one fifth of the country’s population are now living in slums, the state-run ISNA news agency reported on Tuesday, July 9. Saeed Reza Jandaghian said that there are about 11.4 million people living in slums, according to official figures, but the actual numbers are much higher, and today, 16 million …

Radiofarda – The latest monthly report by OPEC says Iran’s oil output in June has dropped by 142,000 barrels per day compared to previous month and reached 2,225,000 barrels. Iran’s output was 3.8 million barrels per day before the returning of U.S. sanctions. Meanwhile estimates show that Iran’s oil export has dropped below 300,000 barrels per day. The figure was 2.5 …

Al-Monitor – Iran’s housing sector is in a dire state, with prices skyrocketing and sales plummeting across the country, especially in metropolises. The government of President Hassan Rouhani and the parliament have several major initiatives in the works, but do they really stand a chance at turning the faltering sector around? When President Donald Trump announced in May 2018 that …

PayvandNews – While the U.S. unilateral sanctions against Iran have created some limitations for trade with the Western partners which led the Islamic Republic to expand economic and trade ties with its neighbors and boost non-oil exports to them, trade with the northwestern neighbor, Turkey, is growing significantly. Iran and Turkey Presidents Hassan Rouhani (R) & Recep Tayyip ErdoganTehran, Iran, …

Al-Arabia – The US special representative for Iran, Brian Hook, told Al Arabiya that imposed oil sanctions on Iran alone will deny the regime 50 billion dollars in revenue annually, adding that the pressure is going to continue. “The oil sanctions alone are going to deny the Iranian regime 50 billion dollars in revenue annually. We’ve also sanctioned the petrol …

Radiofarda – In its latest report the Statistical Center of Iran (SCI) says that the “misery index” in the country reached 39% last winter, whereas a year earlier it stood at 19.4%. Misery index is an informal measure of the state of an economy generated by adding together its rate of inflation and its rate of unemployment. Based on the …

Radiofarda – The Iranian chairman of the joint chamber of commerce of Iran and South Korea says U.S. sanctions against Iran have adversely affected commercial relations with Korea. Hossein Tanhai told Fars news agency that talks with two major Korean home appliance manufacturers have remained futile as the Korean companies are not willing to do business with Iran fearing this …

Radiofarda – A top anti-smuggling official in Iran has said that around 11 million liters or close to 3 million gallons of gasoline is smuggled out of the country on daily basis, according to Fars news agency This is more than 10% of the daily fuel sold to drivers in the country. Iran offers the cheapest fuel for vehicles in …

Al-Monitor – Extreme foreign exchange-market fluctuations are highly likely to continue to menace Iran’s national currency, the rial, and the Iranian economy. A new integrated foreign exchange market is in the works to meet this challenge. NIMA, the state-run secondary foreign exchange market launched just over a year ago, hasn’t brought about the intended results for the Iranian economy due to the Central …

Radiofarad – Iran has loaded 573,000 tons of Liquefied petroleum gas (LPG) in June 2019, marking a 31 percent rise in comparison to May, and a 46 percent increase compared to same month last layer, Kpler, a firm that tracks the movement of oil tankers, told Radio Farda on Thursday July 4. Nearly all of the Iranian gas exports, except …