Citing World Bank figures on a huge GDP fall 2017-20, Gholam-Hossein Shafei has said the government needs to revise policies to stimulate competition and encourage investment.
22 hours 45 min ago
Ministry of Industries Banned the Export of Seven Products
Mohammad Shariatmadari, Islamic Republic’s Minister of Industries, Mining, and Trade, announced a ban on the export of seven goods, including tires, chickens, notebooks, and sugar.
The export of these products is under the “price-controlled currency” category (subsidized dollar), and it is banned in order to adjust and help the domestic market.
Due to the rise of the dollar value, manufacturers might be tempted to export their goods instead of responding to the domestic demand.
This ban is an attempt by the government to prevent such scenarios.
Iran in Brief
Iran has drastically reduced its gasoline exports in mid-2021 apparently to build up its strategic reserves after it aggressively exported the product in 2020 to generate hard currency.
19 Sep 2021
Despite spending tens of billions of dollars in Syria and Iraq to build influence, the Islamic Repubic of Iran has not been able to reap substantial economic benefits.
18 Sep 2021
