Fed raises its economic outlook
The Federal Reserve expects the real gross domestic product to fall just 2.4% in 2020, compared to a decline of 3.7% predicted in September. The Fed also upped its 2021 real GDP forecast to 4.2% from 4.0%.
Iran’s Frozen Money Stands at $40b
Deputy Head of Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA) says Iran’s frozen money in other countries stands at around $40b
Leader: West Doesn’t Want Its Virus Failures to Be Seen
Supreme Leader of the Islamic Revolution Ayatollah Seyed Ali Khamenei says the United States and the Europeans do not want their failures in fighting the novel coronavirus (COVID-19) pandemic to be seen.
Majlis Slashes Four Zeros From National Currency
Majlis yesterday passed a bill allowing the government to slash four zeros from the rial, after a sharp fall in the value of the currency.
IPRC Predicts Stagflation for the Country
Islamic Parliament (Majlis) Research Center (IPRC) has predicted the country will face stagflation this year and government’s budget is facing with challenges of rise in expenses and decline in revenues.
7% Growth in Industrial Production Registered for Autumn
Minister of Industry, Mine and Trade says the Central Bank’s report on the country’s seven percent growth in industrial production in the autumn and setting record for non-oil exports and boosting trade volume of the country to $85b indicates the country’s unique capacities for materializing the surge in production.
Inflation Rate Hits Record High
Iran’s Central Bank under pressure from the critics finally released the report on inflation rate for last Iranian calendar year
Regulated Forex Market Can Bring Stability to Forex Market
TEHRAN – A prominent activist in political and economic fields believe the Central Bank of Iran’s decision to launch the regulated forex market in order to bring stability to the forex market is a good idea provided that is implemented wisely and properly.
Forex Reserves in Good Condition
TEHRAN – The Governor of the Central Bank says the condition of foreign exchanges (forex) in the country is favorable and people should not have any concern. IRAN NEWS ECONOMIC DESK During his one-day visit to Kurdestan Province, Abdolnasser Hemmati met a task force group on resistance economy and reviewed the latest developments in the […]