Oct 25, 2020 07:30 UTC
  • Iranian crude, non-oil exports rising: CBI chief

The governor of the Central Bank of Iran said a growing trend in the export of crude and non-oil products in recent months has increased the supply of foreign currency needed for the imports.

According to Tasnim news agency, in a post on his Instagram page on Friday, Abdolnasser Hemmati said the Central Bank of Iran has managed to provide a sum of $18.5 billion over the past seven months despite the negative impacts of the coronavirus outbreak on the oil prices and the export of non-oil products.

“The growing trend in the export of crude and oil products, coupled with the acceleration of non-oil products in recent months, have improved the conditions for supplying the currency for the imports,” he added.

He also noted that the Oil Ministry has devised plans to barter oil for the basic commodities as part of efforts to raise the level of foreign trade.

In July, President Hassan Rouhani stressed the need to boost the export of non-oil products as a strategy to strengthen the economy, saying trade ties with the neighboring countries is a main priority of his administration.

In a New Year message in March, Leader of the Islamic Revolution Ayatollah Seyyed Ali Khamenei stressed the need for a further surge in the national production with the participation of all organizations and sectors, saying, “Officials should act in a way that production will witness a surge, God willing, and that there will be a tangible change in the lives of the people.”

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