Vistar - Business Monitor

Critical Condition of Iranian Banks

Jan 12, 2016 The research center of the Iranian Parliament has released a report on the banking system which is in “crisis,” warning that Iranian banks may be bankrupt soon. Out of the 7,333 credit and financial institutions currently operating in the country, only 1,000 are authorized by the Central Bank and supervised by it. The rest, known as unauthorized institutions, have been established by certain organizations which are not necessarily accountable to the Central Bank, the report noted. Read more

Iran Government Plans to Bring Big Reform

Jan 31, 2016 By the next strategic plan of the country, dubbed as the 6th Five-Year Economic Development Plan, authorities would do their best to reduce the size of the government and improve business environment, according to media reports. It seems that the incumbent administration is serious to give priority to address the economic woes in the coming years, since it has come up with ideas and plans to reduce the size of the government and budget reliance on oil revenue, cut its debt to banks and contractors, reform the bureaucratic system and push for subsidy reforms. In the meantime, the administration of President Hassan Rouhani tries to make the economy more transparent, improve the business environment, organize credit and financial institutions, pay its debt to the private sector, and pave the ground for the inflow of foreign capital. Read more

Iran’s Falling Revenue

Jan 11, 2016 With Iran’s crude oil being traded at $29, Iran’s revenue from oil sales have decreased to 31 trillion rials. The revenue is too low to cover government expenditures, given the fact that authorities should spend 34 trillion rials on cash subsidies and 100 trillion rials on the salaries of millions of employees. Read more

Iranian Government Faces Unbalanced Budget

Jan 04, 2016 Despite repeated optimistic forecasts about the economy, the Iranian government has failed to balance the budget and says it is facing a shortage of funds to pay the salaries of public employees. Read more