Iran Budget Relying More on Oil; $3.4bn Budget Deficit

NCRI - A look at Iran’s upcoming fiscal budget for March 2017 to March 2018 shows the regime’s budget relying on oil revenue increasing by 11%. Iran’s last fiscal budget showed a 25% reliance on oil revenues, whereas the new budget forecasts a 36% reliance, according to the state-run Tabnak website.

Iran Regime's MP: The President Doesn't Believe in Combating Smuggling

NCRi - Javad Karimi-Ghodousi, Iranian regime’s MP close to Khamenei’s faction, confessed during a clash of the rival factions that “traffickers have influence not only in customs’ administration, but in the parliament and other entities, while the president does not believe in combating smuggling and is doing too little in this regard”, according to state-run bultannews website on Friday March 24.

Iran's Economic Crises, Officials Admitting Market Being Crippled

NCRI - Iran’s Minister of Road and Construction Abbas Akhoondi, admitted to the regime’s failing, in resolving the country’s economic dilemmas, and how the cabinet of Hassan Rouhani is completely incapable.

There are three main factors crippling Iran’s economy.

Iran: 2017 Minimum Wage Less Than One Third of Poverty Line

NCRI - The minimum monthly wage for Iranian workers was set and communicated by the Iranian regime’s Ministry of Labor on March 15.

The question, however, is why the minimum monthly wage this year was set in the final days of the year.

Unlike previous years in which the issue of setting the minimum monthly wage for workers was raised and discussed in state-run media, though sham, this year, however, the regime, who had made up its decision from long ago and was also concerned about workers’ opposing reactions, announced the minimum monthly wage only five days before new year, so that the workers are presented with a fait accompli and have no opportunity to protest.

Iran: Claims of High Economic Growth by Rouhani's Government, Challenged by Khamenei's Faction

NCRI - Claims of high economic growth made by Hassan Rouhani’s government have been severely attacked by political figures and media close to Iranian regime’s supreme leader Ali Khamenei.

Following the claim of an11.6 percent economic growth made by Rouhani’s Central Bank, economic experts described it as unbelievable while the rival band has doubted it as an election move.

 Iranian Banks' Debts Increase by 173% in 10 Months

NCRI - Non-governmental banks and credit unions in Iran have seen their debts to the Central Bank increase in the past 10 months by $5.7 billion.

Numbers published on banks’ debts in the period of January 2017 show the debts of non-government banks and credit unions to Iran’s Central Bank have increased by 173.7% and reached $8.9 billion.

Due to Iran's Uncertain Economic Situation, the Bankruptcy Rate Has Increased %700

NCRI - Mohammad Ali Pourmokhtar, member of the justice and legal committee of the Iran regime’s Parliament, announced unprecedented bankruptcy rate of Iranian companies and said application for bankruptcy protection in the last two years has increased about 700 percent.

According to the state run Radio and TV’s news agency ‘IRIB’, Mohammad Ali Pourmokhtar on March 7 appeared in an exclusive interview on Channel 2 of IRIB and announced an increase in the rate of insolvencies in the last two years and about the rate of bankruptcy of companies said, "in less than two last years it has increased about 700 percent."

Domino Collapse of Banks in Iran

NCRI - On March 8, 2016. At the end of the trading day, in Tehran stock exchange, the Iranian ‘Mellat Bank’ stock fell 45 percent, and the likelihood of bankruptcy of Bank ‘Sarmayeh’ was strengthened. The value of other Iranian banks is also decreasing with a sharp slope.

According to the state-run ‘Entekhab’ website on March 8, at the end of the trading day on Wednesday March 8, 2016, the stock market dropped 514 points and fell to 76285 points. Iranian Copper Industries with 73 points, Shabriz (Tabriz Oil Refinery) with 69 points, Webmellat (Bank Mellat) with 60 points had the most negative effects on falling stock market index.

Iran: Identification of 2000 Front Companies in Connection With Tax Offenses

NCRI - Iran's Deputy Minister of Economy announced the identification of 2000 companies involved in tax violations.

According to Seyyed Kamel Taqavinejad, Iran’s Deputy Minister of Economy, a network of tax violations have been identified in Karaj and East of Tehran Province. Two thousand companies are in this network that are said to have been placed on the black list of the tax. (IRGC Fars News Agency - March 7th)

Iran news in brief

Iran: Tehran's Iconic High-Rise (Plasco Building) Collapsed Due to Fire


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