Business And Markets

Iran's Economy Improving Gradually

CBI data show out of the total 7,737 trillion rials ($60 billion) loans paid in the last fiscal year (ended March 2019), 4,319 trillion rials ($33.3 billion) was allocated to help raise the working capital of businesses
Iran's Economy Improving Gradually
Iran's Economy Improving Gradually

Leaving behind months of rainy days, Iran’s economy is showing signs of improvement in major variables, governor of the Central Bank of Iran said on Monday. 
Speaking on prime time state TV, Abdolnasser Hemmati spoke of relative improvement in macroeconomic indices like inflation, forex rates and liquidity in recent months, following instability and turmoil in almost all domestic markets last year. 
“The national currency regained 40% of its value,” Hemmati said. 
The rial fell more than 60% in unprecedented market fluctuations during April-September 2018, spurred by threats of new US economic sanctions and dim prospects for currency reserves as oil revenues took a drubbing unseen in recent decades. 


Subscribe to the Financial Tribune to continue reading this article or Log in to your account if you are already a subscriber.

Find out more about our subsciption plans here.

Add new comment