Iran to hike subsidized aviation fuel prices 11-fold
Iran is set to increase the price of aviation fuel, a move that could significantly impact airfares for domestic flights while the government is testing waters for raising regular gasoline prices.
Iran's currency crashes amid war threats and soaring military spending
Amid a budget bill emphasizing heavy military spending and the looming threat of an Israeli attack, Iran's currency, the rial, surpassed its previous all-time low against the US dollar on Wednesday.
Wednesday, 10/23/2024 Iran faces large budget deficit burdened by high fuel subsidies
Iranian President Masoud Pezeshkian presented his government’s first budget outline to parliament on Tuesday, signaling plans to tackle rising fuel subsidy costs ahead of the new fiscal year starting March 21.
Tuesday, 10/22/2024 Private sector squeezed out of Iran's foreign trade
Recent statistics from Iran’s Central Bank indicate that the private sector has been largely eliminated from large-scale foreign trade and replaced with government entities, which are engaged in billions of dollars of imports.
Tuesday, 10/22/2024 Iran's economy buckles under the pressure of conflict with Israel
In recent weeks, the rising tensions between the Islamic Republic and Israel, along with the increasing likelihood of an Israeli military strike, have had negative impacts on Iran's economy.
Sunday, 10/20/2024 Parents clean schools as payment burden hits low-income families in Iran
Following last week's case of a mother cleaning classrooms to enroll her child, new reports have surfaced of similar incidents in schools across Iran, where low-income parents are forced to provide labor in exchange for their children's enrollment.
Saturday, 10/19/2024 Iran's currency plunge signals deeper trouble for struggling economy
Iran’s currency, the rial, has plunged near historic lows as the threat of direct confrontation with Israel looms, raising concerns about soaring inflation and adding pressure on the government to manage its economic challenges.
Friday, 10/18/2024 How multi-tiered currency rates corrupt Iran's banks
After Iran's Central Bank report on government banks providing large loans to their employees and affiliates, new reports have emerged about these loss-making financial institutions entering the local foreign currency market.
Friday, 10/18/2024 Iran’s Misery Index highlights economic hardship in key provinces
A report by the Statistical Center of Iran reveals that the provinces of Kermanshah and Isfahan are facing the most economic challenges, topping the nation’s Misery Index. after five years of high inflation.
Monday, 10/14/2024 Iran's oil loadings plunge 70% amid Israeli retaliation threats
Iran's oil loadings plummeted nearly 70% in the first ten days of October, as its tanker fleet dispersed in anticipation of potential Israeli strikes, which may target the country's oil terminals.
Sunday, 10/13/2024 Ex-Iran official dismisses trade efforts under sanctions as gimmick
The former head of Iran’s Chamber of Commerce, recently sentenced to prison and fined, has dismissed the government's claims of free trade with Eurasia as empty rhetoric, pointing to the ongoing effects of sanctions.
Saturday, 10/12/2024 Iran imposes gasoline restriction amid potential Israeli retaliation
Gasoline supply in Iran faced abrupt changes on Sunday, with new limits imposed on daily refueling and fuel station allocations, sparking concern about potential price hikes.
Sunday, 10/06/2024 Iran's currency falls amid fears of Israeli retaliation
Iran's currency, the rial, has dropped by more than 5% in two weeks, following Israeli strikes against Hezbollah in Lebanon, Iran's missile attack on October 1, and Israel's threat of retaliation.
Sunday, 10/06/2024 Iran faces 26% oil revenue deficit despite surging exports
Iran’s Supreme Audit Court reports that despite a surge in oil exports, the projected revenues from these exports in recent months have not been met in the national budget.
Saturday, 10/05/2024