BAKU, Azerbaijan, Feb.22
Trend:
Iran's mine sector had a good share in the country's total non-oil export, said the head of the Mines and Mineral Industries Commission of Iran Chamber of Commerce.
The mining sector had shared 20 percent of the country's non-oil export in the current Iranian year (started March 20, 2020), said Bahram Shakouri, Trend reports citing ILNA.
"The precise statistics about Iran's mineral products export has not been officially released. A major part of mine products are being exported that would compensate issue of the increased price of products in the domestic market but if the prices continue to increase domestic purchase power would decline and lead to recession," he added.
Shakouri went on to say that there should be reform in the banking and monetary system to prevent the high prices. If one could not buy or sell a product because of the high price the economy and mining sector would suffer.
"The mining sector is part of the economy and it is naturally affected by inflation. The mining sector consumes some of the basic commodities that are being affected by inflation, it is expected that the government would implement proper monetary and financial policies to reduce the inflation rate that pressures people," he noted.