15-20% of Iranian Industrial Units Facing Recession

About 15-20% of all Iranian industrial units are facing recession, the industrial affairs deputy with the Ministry of Industries, Mining and Trade said. “There are close to 85,000 industrial firms active in the country, some 50-60% of which are working at full capacity, while 15-20% work below 30%,” Mohsen Salehinia was quoted as saying by ISNA. “These units are either in need of working capital, new machinery and equipment or face sales problems,” he added.  Former industries, mining and trade minister, Mohammad Reza Nematzadeh, said in July that the government has allocated 300 trillion rials ($8 billion) in the current fiscal year (March 2017-18) to spur growth in Iran’s manufacturing sector.