EghtesadOnline: Lawmakers allowed the government on Sunday to withdraw €2.37 billion from the National Development Fund of Iran to be paid in foreign currency for completing national projects in the next fiscal that starts on March 21.
EghtesadOnline: While debating the March 2019-20 budget bill on Monday, lawmakers allowed the government to borrow $30 billion in foreign finance in the next fiscal (March 2019-20).
EghtesadOnline: The government will lend money to two local auto companies, Iran Khodro and SAIPA, to the tune of 40 trillion rials ($333 million). The bailout is for paying part of the carmakers’ mounting debt to local parts makers.
EghtesadOnline: As part of its plans to reform the limping banking sector, the government has launched a program to sell excess property of state banks.
EghtesadOnline: The Majlis Research Center has called on the government and monetary regulators to boost the capital buffers of banks to help them cope with recession that observers predict will afflict the economy.
EghtesadOnline: Iran's minister of industries, mining and trade announced new concessions to exporters and promised closer cooperation to help resolve pending issues outlined in the long list of demand of businesses.
EghtesadOnline: In the coming fiscal (2019-20), Iran government expects to earn 100 trillion rials ($864 million) from the ICT sector, down 9% compared to projected income for the current year that ends in March.
EghtesadOnline: Provisions of Note 5 of next year’s budget give details about Islamic bonds the government intends to issue in the next fiscal year that begins in March 2019.
EghtesadOnline: Drawing on EU’s General Data Protection Regulation (GDPR), Iran’s ICT Ministry has prepared a bill it calls ‘User Data Protection’ that will soon be sent to the Majlis for ratification and become law.
EghtesadOnline: Mohammad Baqer Nobakht, the head of Plan and Budget Organization of Iran, says despite sanctions, the government’s financial resources have increased more than 20% in the first seven months of the current year (March 21-Oct. 22) compared with the same period of last year.