Tag Archives | growth

Why Growth has not led to Job Creation in Iran

By Navid Kalhor for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. Why economic growth has not led to job creation in Iran Last fall, the World Bank forecast that Iran’s economy will grow by merely 4% and 3.4% in 2018 and 2019, respectively. These rates […]

Central Bank Chief Hails Economic Growth in Iran

The Governor of the Central Bank of Iran (CBI) Valiollah Seif highlighted the administration’s success to push down inflation and stimulate economic growth after years, saying the country’s economic growth rate hit 12.5 percent last year. Addressing the 57th annual general assembly of the CBI on Sunday, Seif expected that the rate of economic growth […]

IMF Forecasts Economic Slump for Iran in 2017

The International Monetary Fund (IMF) predicted an economic slump for Iran in 2017. “Iran’s economic growth will slide to 3.5 percent in 2017 from 12.5 percent in 2016 but is expected to expand 3.8 percent next year,” it said, The National reported. It added that other oil producing nations are also expected to see a […]

5% Growth Expected in Iran this year

By John Lee. The Central Bank of Iran (CBI) has forecast economic growth of at least five percent for the current Iranian calendar year, which ends on 20th March 2018. CBI Governor, Valiollah Seif (pictured), is quoted as saying. “Most of the economic sectors have improved remarkably during the current fiscal year … therefore the […]

Rouhani’s Budget Proposal Reverses Declining Reliance on Oil

By Alireza Ramezani for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. Iranian President Hassan Rouhani presented the last budget bill of his current term to the parliament Dec. 4. The state budget for the next Iranian year, beginning March 21, 2017, will exceed 10 quadrillion rials […]

Why Iran is Finding it Hard to Create Jobs

By John Lee. A report this morning from The Economist says that although Iran’s GDP is set to grow about 4.5 percent this year, up from 0.4 percent in 2015, unemployment has increased from 10.7 percent to 12.2 percent. Increased oil exports have been achieved largely by soaking up existing capacity, while the resulting influx […]

Growth to Reach 5% This Year, Next: CBI Chief

Governor of Central Bank of Iran (CBI) Valiollah Seif, who is on an official visit to Singapore, predicted that the economic growth of the country will reach five percent this year and the next year, calling on Asian companies to invest in the Islamic Republic. Speaking at a business seminar in Singapore on Wednesday, Seif […]

Economic Conditions Improving in Iran: IMF

A recent report by the International Monetary Fund (IMF) said there are signs of economic growth in Iran following the implementation of the Joint Comprehensive Plan of Action (JCPOA) between Tehran and world powers. “Real GDP rebounded strongly over the first half of the year as sanctions eased post-JCPOA implementation. Oil production and exports rebounded […]

Iran’s 4.4% Economic Growth

Iranian President Hassan Rouhani highlighted the country’s economic growth of more than 4.4 percent in the first three months of the current Iranian year, which began on March 20, 2016. “(Iran’s) 11th administration took office when the country’s economic growth (rate) was minus 6.8% and today, it has reached 4.4 percent for the first three […]

Economy Minister: There are Positive Economic Signs

By Arash Karami, for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. Ali Tayebnia, Iran’s economy minister, is seeking to reassure a skeptical public that the economy is headed in the right direction, despite a lack of tangible signs of progress six months after the implementation […]

Iran — Achieving its Potential in the Global Economy

By John Lee. A senior official with the International Monetary Fund (IMF) has said that Iran must implement economic and structural reforms and tackle money laundering and terrorist financing if it is to reintegrate into the global economy. Mr David Lipton (pictured), the IMF’s first deputy managing director, made the statement in Tehran — this […]

Increase in Iran’s Foreign Exchange Reserves

The International Monetary Fund (IMF) in its latest economic report announced that Iran’s foreign exchange reserve had increased significantly. In its latest World Economic Outlook report, the IMF said the Iranian reserve of foreign exchange rose by 14.3 billion dollars in 2015, registering a record of 125.9 billion dollars. The report at the same time […]

Iran Issues “Annual Economic Review”

The Central Bank of Iran (CBI) has published the latest edition of The journal of Annual Economic Review for 2014/15, featuring topics on Global economic developments, Central Asia and Middle East economic developments, Gross Domestic Product and Expenditure, developments of real economy, Oil Market developments, Fiscal sector developments, Asset Market developments and other subjects. The […]

Iran Aims for 5% Growth Next Year

By John Lee. Iran’s Minister of Economic Affairs and Finance has said that the government is targeting 5 percent economic growth in the coming Iranian year, which begins on 20th March. Ali Tayyebnia (pictured) added that inflation is targeted at 11.3 percent. (Source: Tasnim News Agency)

World Bank Forecasts Stronger Iranian Growth

By John Lee. The World Bank expects the Iranian economy to grow 5.8 percent in 2016, according its flagship “Global Economic Prospects“ report released yesterday. This follows an estimated growth of 1.9 percent last year. Growth rates of 6.7 percent and 6.0 percent are predicted for 2017 and 2018 respectively. The report argues: “Crude oil […]

GDP Growth of 1% in 1H

Iran’s economic output grew by 1 percent in the first half of the current fiscal year (started March 21), according to preliminary data released from the Statistical Center of Iran. Growth in agriculture (5.7 percent) and services (0.9 percent) outweighed a contraction in industrial output (-1.1 percent). GDP expanded 3 percent in 2014, after a […]

Rouhani Shifts Gears on Economy

By Alireza Ramezani, for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. After months of resisting calls for an economic stimulus package, President Hassan Rouhani has finally changed his stance on the matter. This will be the second such short-term plan initiated since he took office […]

Has Iran entered ‘New Era’ of Economic Policies?

By Seyed Mahdi Barakchian, for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. Supreme Leader Ayatollah Ali Khamenei’s speech at his Aug. 26 meeting with President Hassan Rouhani (pictured) and the Cabinet signaled a new era for the management of the Iranian economy. This is notable, […]

Rouhani Outlines Plans for Growth

President Rouhani described the new plans and policies of the government for economic growth, the most important foreign relations plans, and regional and global issues in a live television interview. “People are getting ready to show their respect to the culture of Ashura which is the culture of dignity, freedom, and resistance against injustice and […]

“Prospects for 2016/17 are Brighter”, IMF

An International Monetary Fund (IMF) team has reported that comprehensive economic reforms will be needed in Iran if it is to benefit from the nuclear deal it struck with six world powers in July. It said real GDP growth is projected to decline from 3 percent in 2014/15 to somewhere between 0.5 to -0.5 percent in […]