Iranian economy

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Iran's GDP 8% growth depends on political consensus

Iran's GDP 8% growth depends on political consensus

Minister of Economic Affairs and Finance Ali Tayyebnia believes an 8% economic growth for the upcoming Iranian year (March 2017-18) is within reach, “if the political wrangling during presidential campaigns does not …

Why Iran's Rial Hit an All-Time-Low Against the US Dollar

Why Iran's Rial Hit an All-Time-Low Against the US Dollar

Today $1 costs 100 thousand Iranian rials, that is an all-time-low rate against dollar. Although several reasons for the slide have been put forward by economists – amongst them the strength of the dollar against other currencies in the …

Iran’s Cabinet passes monetary reform motion

Iran’s Cabinet passes monetary reform motion

Iranian President Hassan Rouhani’s cabinet on Wednesday approved a motion put forward by the Central Bank of Iran (CBI) to change the national currency from rial to toman, leading to a ten-fold decrease in banknote denomination...

Iran establishes relations with foreign banks

Iran establishes relations with foreign banks

Iran has established correspondent relations with 230 foreign banks since January 16, 2016, the vice governor of Central Bank of Iran for foreign exchange affairs, Gholamali Kamyab, said. He noted that Iranian …

Rouhani: Iran saved from oil countries’ afflictions

Rouhani: Iran saved from oil countries’ afflictions

Iranian President Hassan Rouhani said his administration saved the country from many economic afflictions that oil producing countries around the world suffered in the past couple of years. Rouhani vowed that …

Iran among 15 countries with rich mineral resources

Iran among 15 countries with rich mineral resources

Speaking in a local gathering, Mohammad-Taqi Korei said Iran enjoys more that one percent of global mineral resources while accessing to one percent of the world's land areas.  'At least 32 out of 42 natural hazards, …

Tehran's oil plans

Tehran's oil plans

Iran expects $25 billion oil contracts signed within two years

Rouhani hopes for 5% economic growth

Rouhani hopes for 5% economic growth

Iranian President Hassan Rouhani has expressed hope that the country will register a 5% economic growth over the current Iranian calendar year (starting March 20). “I hope that by the end of the current (Iranian) …

Iranian Economy Minister: our economy to grow by 5%

Iranian Economy Minister: our economy to grow by 5%

Iranian Economy Minister Ali Tayebnia said that Iran's economy will grow by 5% by March 2017 "There is no doubt that the administration will reach the five percent economic growth in current fiscal …

 Rouhani says there is tangible progress in Iran's economy

Rouhani says there is tangible progress in Iran's economy

Iranian President Hassan Rouhani hailed the post-JCPOA era as a unique opportunity for Iran to attract foreign investments. Rouhani said that just four month following the implementation of the Joint Comprehensive Plan …

Iran FM to visit Switzerland on June 1

Iran FM to visit Switzerland on June 1

Iran's Foreign Minister Mohammad Javad Zarif will visit Switzerland on June 1, the Swiss Ambassador to Tehran Giulio Haas wrote today on his Facebook page. He noted Zarif will lead an economic …

IMF calls for plan of action on Iran’s economy

IMF calls for plan of action on Iran’s economy

David Lipton, first deputy managing director of the International Monetary Fund (IMF), has called for a plan of action aimed at reforming Iran's economy, Trend reports. "I suggest that while Iran will gain from …

Iranian banks cut annual interest rate

Iranian banks cut annual interest rate

Iranian banks have agreed to reduce the annual interest rate by 2% to 18%,  thus the daily interest rate will fall below 10%. It is worth noting that in recent years the interest rate in Iran has grown,  as …

Ali Tayyebnia expects Iranian GDP to grow by 8%

Ali Tayyebnia expects Iranian GDP to grow by 8%

Iranian Economy Minister Ali Tayyebnia predicts that Iran's GDP will grow by 8% in the next fiscal year, which begins on March 21, 2016. "We hope to achieve inflation-adjusted growth of 8%," the head of …

Security Council urges Iran to greater coordination with the SCO

Security Council urges Iran to greater coordination with the SCO

The Deputy Secretary of the Russian Security Council, Yevgeny Lukyanov, at a round table organized by RISI said that the past year was one of the most successful in terms of the bilateral contracts between Russia and Iran, and now there is a need …