Economy

Recent allegations spread by the Islamic Republic of Iran Broadcasting that milk in Iran is contaminated with excessive levels of aflatoxin has hurt the domestic dairy industry and further…

The London-based Legatum Institute, which compared the Prosperity Index of 167 countries, found that Iran’s score has improved from 46.7 in 2009 to 48.3 in 2019.  However, its ranking…

Tehran Stock Exchange’s all-share index shed 82.60 points or 0.11% on Wednesday to close trade at 73,877.1.

The benchmark’s weak performance owed to significant losses incurred by steel and…

Russia has said it may join a European Union payment system aimed at salvaging the Iran nuclear deal if the mechanism is expanded to include oil purchases. 

1. Director of Iranian National Tax Administration Omid Ali Parsa: Tax evasion [in Iran] stands at a whopping 350 trillion rials [$3.73 billion per annum]. The establishment of electronic…

Supplying rural areas with clean water will be among the main activities of the Energy Ministry this year, deputy for engineering and development affairs at the National Water and Wastewater…

1. Foreign Minister Mohammed Javad Zarif: We can connect Chabahar and Gwadar, and then connect Gwadar to our entire railroad system, from Iran to the North Corridor, via Turkmenistan and…

1. Deputy Agriculture Minister Hossein Shirzad: Iran’s stockpiles of essential goods in reserve are enough to last for at least six months with absolutely no need for imports. This is while…

A month before OPEC and allies are set to discuss the future of their production cut deal, the leader of the non-OPEC group, Russia, appears to have finally fallen in line with its share of the…

1. Steffen Seibert, German government spokesman: Along with our E3 partners [France and Britain], we’re undertaking efforts to keep enabling legitimate trade with Iran, in particular by…

1. Governor of the Central Bank of Iran Abdolnasser Hemmati: Don’t make investment in the forex market based on political variables. (IRNA) 2. Afrouz Bahrami, managing director of Export…

1. Behrouz Nemati, a spokesman of Majlis Presiding Board: Gasoline rationing and price hikes have been put on hold for the time being. (IRNA) 2. Minister of Roads and Urban Development Mohammad…

1. Mousa Ghaninejad, economic analyst: The way out of Iran's economic crisis is by ensuring compliance with scientific economic principles. (Otaghiranonline.ir) 2. Hossein Raghfar, professor of…

1. Oil Minister Bijan Namdar Zangeneh: The US dream of reducing Iran’s oil exports to zero will not come true. (IRNA) 2. Turkish Foreign Minister Mevlut Cavusoglu: Turkey is looking into…

1. Mohammad Reza Pourebrahimi, chairman of Majlis Economic Commission: With the current inflationary trend, dropping four zeros from the  rial would be appropriate. (IRIB News)

A report released by the Iranian Legal Medicine Organization shows the number of deaths caused by car accidents witnessed a 0.4% year-on-year rise in the 10 months ending Jan. 20.

During…

1. Minister of Roads and Urban Development Mohammad Eslami: Flood-stricken Iranians need more than 55,000 homes. (Hibna) 2. Deputy Roads Minister Kheirollah Khademi: Flooding in Iran has caused…

The World Bank has downgraded Iran's economic growth estimates and forecasts in a new report. The report entitled "Reforms and External Imbalances: The Labor-Productivity Connection in MENA (…

1. Foreign Minister Mohammed Javad Zarif: A year after the US unlawful abrogation of the Joint Comprehensive Plan of Action [the formal name of the nuclear deal Iran signed with six world powers…

1. President Hassan Rouhani: Iran is ready to increase energy exports to Iraq. (Fars News Agency) 2. First Vice President Es'haq Jahangiri: US sanctions have failed to harm Iran's metal…

1. President Hassan Rouhani: Iran's economy would have been less affected by sanctions if it was in the hands of the private sector. (Dolat.ir) 2. Oil Minister Bijan Namdar Zanganeh: Iranian…

1. Azerbaijan's Economy Minister Shahin Mustafayev: Iran-Azerbaijan trade increased by 74% in 2018 to stand at $450 million. (HIBNA)

1. President Hassan Rouhani: The US unilateral sanctions against Tehran have helped Iran, as the pressures push the nation to work harder and replicate embargoed products and items. (Fars News…

1. Russia’s Deputy Foreign Minister Sergey Ryabkov: The upcoming launch of INSTEX, the European mechanism of foreign trade settlements aimed at facilitating trade with Iran bypassing American…

Foreign Minister Mohammed Javad Zarif: Iran welcomes INSTEX—a long overdue 1st step—in E3 implementation of May 2018 commitments to save JCPOA by ensuring dividends for Iranians after US’…