Central Bank Report

AFTAB: The latest report by the Central Bank puts the GDP rate at 7.4 percent. The bank also reports stability in the forex market, attributing it to the nuclear deal between Iran and the world powers last year. The report suggests lifting of sanctions has opened the doors for Iranian economy and banks to interact with the world markets. The bank concludes that had it not been for the deal, the economic situation could have been worse.

Waste of Efforts

SIASAT ROOZ: The government has complained against the United States for extending the Iran Sanctions Act for another ten years. The majority of pundits are of the opinion that the law violates the nuclear treaty and it’s a waste of time and effort to stick to it. In reality, Iran is giving many incentives to the United States and gets nothing in return. This is while President Obama claims he has stopped parts of the legislation from happening that violates the Iran deal.

Digging Deep

TASNIM: Recession has now reached the mining shores. As a result, some 120 mining companies have closed down in recent years, laying off at least 10,000 miners, of which 4,600 lost their jobs this year. The report blames falling prices of stones in the world market as another reason for the current recession. There are at the moment only 40 mining companies operating in five provinces.

Banking Hurdles

HAMSHAHRI: Trade officials suggest the nuclear deal has helped resolve a number of key issues in the industry. It has lifted many barriers in the way of international industrialists. However, they still have to deal with the problem of global banking restrictions. It’s their biggest issue which they say cannot be resolved as per the nuclear deal. They say the only way out is proper planning within the country and in the banking system to fix the inflation and recession.