Economy, Business And Markets

Iran Government Launches Economic Databank

Government Lunches  Economic Databank Government Lunches  Economic Databank

The Financial-Economic Databank and Iran's Economic Data Monitoring website, which is the first of its kind, were unveiled on Tuesday, with Economy Minister Ali Tayyebnia and his deputies in attendance.

"Information is a valuable resource nowadays and the necessity of establishing a databank has been discussed in multiple meetings, especially with the private sector," Tayyebnia said.

"Since we felt the urge for state intervention in the market, the issue of data access was broached. Up until 30 years ago, governments had nothing to do with inflation rate but when the government had to curb inflation, the need for economic data and statistics was clearly felt."       

Hussein Mirshojaeian, a deputy economy minister, also said that the databank could form the base for better policymaking and help improve economic conditions, IBENA reported.  

“The bank’s data can be updated on a periodic, seasonal or daily basis, and contain information on all the provinces as well as international and exclusive content of the ministry,” he said.

The deputy minister noted that the website will be linked with the World Bank data center and only senior managers will have access to certain parts of it as it contains confidential material.

Mirshojaeian said the data will be provided with the assistance of Planning and Budget Organization and the Statistical Center of Iran so the economy minister gets direct access to each corporation’s performance at a click.

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