News ID: 319003
Published: 0247 GMT December 27, 2021

Iran’s export earnings increase, monthly inflation rate drops: Report

Iran’s export earnings increase, monthly inflation rate drops: Report

New reports given to the Iranian administration’s Economic Coordination Headquarters indicate that the country’s incomes from exports of oil and non-oil products have risen in recent months, while the monthly inflation rate has declined.

In a meeting of the headquarters, chaired by President Seyyed Ebrahim Raeisi on Sunday night, the Central Bank of Iran (CBI) released a report, saying while the countrys earnings from oil and non-oil goods exports have increased in recent months, the supply of foreign currency to the local market has grown compared to the previous year, Tasnim News Agency reported.

During the first nine months of the current Iranian year, which started March 21, a total sum of $40 billion has been funneled to the market, while the sum in the corresponding period of last year had totaled $36.5 billion, the report by the CBI said.

In another report, the Statistical Center of Iran said the growth of monthly inflation rate in the country has been capped in recent month and has dropped by 1.7%.

Last month, CBI chief Ali Saleh-Abadi said the process of repatriation of foreign currency earned from exports of Iranian commodities has improved, resulting in relative stability in the currency market.

The top banker said the currency generated from oil, natural gas and gas condensate exports was also being supplied to the domestic market.

Days after taking office in August, Raeisi emphasized the necessity for the removal of obstacles to the activities of Iranian exporters, saying plans must be formulated to eliminate the barriers and provide motivation for the enhancement of exports.


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