Iran is planning its next budget on the assumption that US economic sanctions will continue, but is forecasting more than one million barrels p/d oil exports.
The United States and the Gulf Cooperation Council (GCC) have condemned Iran’s ballistic missiles program days before nuclear talks with Iran resume in Vienna.
The IMF in a recent report showed that Iran’s foreign currency reserves increased from a low of $12.4 billion in 2020 to a projected $31.4 billion for 2021.
Iran’s government is pledging not to dip into the pockets of the central bank or print more money to balance its budget, but skeptics doubt there are any magic solutions to lack of income.
Iran needs $160 billion of investments in its oil and natural gas industries in the coming years, to avoid becoming a net importer, the oil minister has said.
Another big decline in Iran’s stock market on Sunday has highlighted the precarious state of the economy amid uncertainty over the future of nuclear talks.
In a rare admission the speaker of Iran’s parliament said Monday, “We could not accomplish anything” with 80 percent of the economy dominated by the government.
Iran’s oil refining capacity has declined by 11 percent in 8 years and its share of global refining is just 2 percent, despite its large reserves of crude oil.
President Ebrahim Raisi should tell the truth to the people instead of giving "formal" television interviews, a well-known conservative newspaper has said.
By the end of the current Iranian fiscal year, the government needs an additional $12 billion to balance its budget, with revenues falling short of projections.
Iran is ready to swap oil with investments in the energy sector, oil minister Javad Owji told parliament on Sunday, as US sanctions prevent large-scale exports.
State-controlled media in Iran continue to defend a ban on South Korean home appliances, saying that the move was a “diplomatic message” to South Korea.
In the Economic Freedom of the World report by Canada’s Fraser Institute Iran has ranked among the ten worst countries, scoring 160 among 165 in the world.