Baku, Azerbaijan, May 11
By Elnur Baghishov – Trend:
Some $30 billion of the $40 billion of revenue Iran has earned from exports have not been returned to the country, Hossein Mir-Shojaeian, Advisor to the Minister of Economic Affairs and Finance of Iran, told ISNA, Trend reports.
According to Mir-Shojaeian, the foreign currency earned from exports has not been brought back to the country in the form of products or any other form.
Mir-Shojaeian said that, while the government faces problems with oil exports, the private sector should help Iran's foreign trade turnover, and this is the only way to ensure import of goods or bring foreign currency back to Iran.
"Not returning the currency earned from exports to the country is tantamount to smuggling investments out of the country," he said.
Noting that the government provides tax privileges to companies in order to facilitate the return of foreign currency earned from exports to Iran, Mir-Shojaeian said that a decision has been made this Iranian year (started on March 21, 2019), according to which exporters not returning the foreign currency back to the country will be stripped of said privileges.
NIMA is a system intended for the sale of a certain percentage of the foreign currency gained from the sale non-essential goods and export, and – as per the decision of the Central Bank of Iran - exporters of non-oil products should sell a portion of the foreign currency earned from the exports to this system.
The price of 1 euro in this system is 118,453 rials, and the price of $1 is 98,714 rials.
In the black market, $1 is worth about 150,000-154,000 rials, while 1 euro is worth about 168,000-174,000 rials.