Report:

Iran’s Export Earnings Increase, Monthly Inflation Rate Drops

Date: 27 December 2021 - 21:41

News ID: ۹۸۲۴۵

TEHRAN – The Central Bank of Iran (CBI) has released a report that indicates the country’s incomes from the export of oil and non-oil products have risen in recent months, while the monthly inflation rate has declined.
In a meeting of the Administration’s Economic Coordination Headquarters, chaired by President Ebrahim Raisi on Sunday night, the Central Bank of Iran released a report, saying while the country’s earnings from the export of oil and non-oil goods have increased in recent months, the supply of foreign currency to the local market has grown compared to the previous year.
During the first nine months of the current Iranian year, a total of $40 billion has been funneled to the market, while the sum in the last year had totaled $36.5 billion, the report by the CBI said.
In another report, the Statistical Centre 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, the CBI chief Ali Salehabadi said the process of repatriation of foreign currency earned from the export of Iranian commodities has improved, resulting in relative stability in the currency market.
The top banker said the currency generated from the exports of oil, natural gas and gas condensates was also being supplied to the domestic market.
Days after taking office in August, Raisi 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.