Iranian economy is projected to grow by 2.1 percent in the current fiscal year (March 2021-March 2022) as the domestic markets are getting back on track and the negative impacts of the coronavirus pandemic begin to wane, according to the World Bank’s Macro Poverty Outlook (MPO) report for spring 2021.
Iran’s revenues in petrochemicals in the past seven years have surpassed $110b,adding that customers of Iran’s petrochemical products have continued to buy even in the sanctions era.
Minister of Finance and Economic Affairs Farhad Dejpasand says national economy is grappling with politicization and the only cure for it is the interaction and professional performance with calmness.
Mohammad Baqer Nobakht says Iran is fully ready to export 4.6m bpd of crude oil in case the sanctions are lifted by the U.S. but in the budget bill, it is predicted the country to sell between 1 to 2.3m bpd next year.
the latest statistics released by Iran Customs Administration show that Iran’s exports to Syria have been around $73m in the first seven months of the current year
Iran’s economy could expand by as much as 4.4% in 2021 if U.S. President-elect Joe Biden lifts sanctions that have contributed
Eurozone Preliminary GDP arrives at 12.6% QoQ in Q3 vs. +12.7% expected
China Government is busy with investment in the West Asian region and it has so far allocated budget worth $160b in its strategic plan of “One Belt One Road (OBOR)”.
The managing director of Iranian Fuel Conservation Company (IFCO) says with the current trend of gas consumption in the country, Iran may become a gas importer in 20 years and it may import 500m cubic meters of gas per day.
After the U.S. suffered an international failure and backlash and its proposed resolution on Iran arms embargo at the UNSC unanimously rejected and only a pint-size country, Dominican Republic, supported it, the U.S. is striving to save its face.