• Domestic Economy

    $110m in Loans to Transport Companies

    Sixty percent of loans allocated for transportation companies (road, air, rail and sea) hurt by the coronavirus had been paid as of Dec. 13, says Mohsen Sadeqi, an official with the Ministry of Roads and Urban Development on Monday. 

    “Out of 48 trillion rials ($184.61 million) worth of financial support allocated by the government to the transportation sector, 28.6 trillion rials ($110 million) have been paid,” Sadeqi was quoted as saying by IRNA.

    “The government’s loans considered for the transportation sector is divided into two parts: The first part of this support package has been paid to air and rail transportation sectors, which has been hurt by the pandemic; the second package has been dedicated to over-the-road public transportation sector.”  

    In total, 218,000 applications have been submitted by transportation companies. Nearly 151,000 of these applications have received 28.6 trillion rials; the documents and collaterals of the rest of them are under review.

    Sadeqi said 29 air transportation companies have applied for more than 25.53 trillion rials ($98.19 million) in loans, of which 10 have received loans worth 17.5 trillion rials ($67.3 million) so far. 

    “Sixty rail transportation companies have applied for 8.75 trillion rials [$33.65 million] in loans; 16 of them have received loans worth 1.6 trillion rials [$6.15 million] thus far,” he said. 

    “Out of 275,000 employees from the transportation sector who registered for coronavirus loans at Kara.mcls.gov.ir, the loans of 175,000 workers have been granted.”

     

     

    Lowest Average Annual, Monthly Inflation

    “Transportation” recorded the lowest average annual and monthly inflation rate among 12 groups of the basket of consumer goods and services purchased by households in the Statistical Center of Iran’s latest report.

    The average goods and services Consumer Price Index of transportation in the 12-month period ending Dec. 20, which marks the end of the ninth Iranian month, increased by 64.8% compared with the similar period of the year before. 

    With a coefficient of 9.41%, the Consumer Price Index of the group stood at 360.3, indicating a 3.6% decrease compared with the month before. 

    The “transportation” index registered a year-on-year increase of 65.2% though.

    The 12 groups of the basket of consumer goods and services purchased by households surveyed by SCI include "food and beverages" with a coefficient of 26.64%, "tobacco" with a coefficient of 0.59%, "clothing and shoes" with a coefficient of 4.78%, "housing, water, electricity, natural gas and other fuels" with a coefficient of 35.5% (highest), "furniture, home appliances and their maintenance" with a coefficient of 3.93% and "health and treatment" with a coefficient of 7.14%.

    "Transportation" registered a coefficient of 9.41%, "communications" 2.87%, "leisure and culture" 1.65%, "education" 1.86%, "hotels and restaurants" 1.44% and "miscellaneous items and services" recorded a coefficient of 4.18% .

    The average goods and services Consumer Price Index in the 12-month period ending Dec. 20 increased by 30.5% compared with the corresponding period of last year. 

    The consumer inflation for the month under review (Nov. 21-Dec. 20) registered an increase of 44.8% compared with the similar month of the previous Iranian year. 

    The overall CPI (using the Iranian year to March 2017 as the base year) stood at 280.6 in the month under review, indicating a 2% rise compared with the month before.