EghtesadOnline: Corruption is the first challenge threatening Iran’s economy, prominent Iranian economist, Saeed Laylaz, has said in a write-up published by Iran Chamber of Commerce, Industries, Mines and Agriculture’s news portal. “Although economists have repeatedly warned about this issue, I believe corruption in this country has snowballed out of control, leaving no way out. The fight against corruption should be set high on the agenda of the incoming government,” he added.
EghtesadOnline: The Asian Infrastructure Investment Bank is ready to finalize the assessment report on projects introduced by Iran to the China-based lender to receive funding, AIIB’s deputies announced.
EghtesadOnline: The better chunk of the two-part South Korean finance for Iranian projects has reportedly been finalized by the two countries’ officials.
EghtesadOnline: The National Development Fund of Iran has $91 billion in reserves, Mohammad Hosseini, who also represents the parliament on the NDFI governing board, said.
EghtesadOnline: Iran economy grew 12.5% in March 2016-17 compared to the preceding year, according to the Central Bank of Iran's latest report released on Sunday.
EghtesadOnline: Minister of Economic Affairs and Finance has confirmed local media reports of an imminent South Korean $13 billion credit line to support Iranian projects–a measure, which if finalized, will mark the biggest instance of foreign finance for the country since the implementation of the nuclear accord in January 2016.
EghtesadOnline: Iran met 96% of the budgetary outlay of 2.94 quadrillion rials ($78.8 billion) for the last Iranian year (March 2016-17), the head of Planning and Budget Organization said.
EghtesadOnline: The unique conditions of Iranian economy, especially its low amount of foreign debt, help attract foreign investments, a deputy economy minister said.
EghtesadOnline: Oberbank, one of Austria's biggest banks, has allocated a €1 billion ($910 million) line of credit to finance investment projects in Iran, Austria's finance minister announced in a meeting with his Iranian counterpart in Tehran on Sunday.
EghtesadOnline: The Financial Action Task Force–the global body that monitors money laundering worldwide–will have Iran on top of its mind when it convenes for its forthcoming plenary and working group meetings on June 18, the Central Bank of Iran's director for international affairs announced.