BAKU, Azerbaijan, June 24
By Elnur Baghishov – Trend:
The interest rate on deposits with the Central Bank of Iran has been increased by 2 percent, according to the decision made at the meeting of the board of the Central Bank of Iran (CBI) on June 24, Trend reports citing CBI.
The decision will come into force on June 27 and the interest rate on deposits will be 12 percent.
According to the report, this decision was made in accordance with the provisions of open market operations.
“This decision was made to reduce the budget deficit,” the report added.
“Iran's non-oil economy is growing. At the same time, inflation in Iran is projected at 22 percent,” the report noted.
US sanctions against Iran, various problems in the Iranian economy and the spread of the coronavirus have caused many problems. As a result of the coronavirus, Iran's exports have decreased.
Iran exported 9.17 million tons of products worth $2.64 billion in two months (March 20-May 20, 2020). Also, Iran plans to export $41 billion worth of non-oil products in the current Iranian (began March 20, 2020).
The US imposed new sanctions on Iran in November 2018. Over the past period, the sanctions affected Iranian oil exports, more than 700 banks, companies and individuals.
Iran continues to monitor the coronavirus situation in the country. According to recent reports from the Iranian officials, over 212,500 people have been infected 9,996 people have already died. Meanwhile, over 172,000 have reportedly recovered from the disease.
The country continues to apply strict measures to contain the further spread. Reportedly, the disease was brought to Iran by a businessman from Iran's Qom city, who went on a business trip to China, despite official warnings. The man died later from the disease.
The Islamic Republic only announced its first infections and deaths from the coronavirus on Feb. 19.
The outbreak in the Chinese city of Wuhan - which is an international transport hub - began at a fish market in late December 2019.
The World Health Organization (WHO) on March 11 declared COVID-19 a pandemic. Some sources claim the coronavirus outbreak started as early as November 2019.