Over $45m paid in subsidies to production sector in 3 months: official

June 28, 2015

TEHRAN – The Iranian administration has paid 1.43 trillion rials (about $45 million based on market exchange rate) to the production sector in the first quarter of the current Iranian calendar year (March 21-June 21), the deputy industry minister Ali Yazdani said on Saturday.

Some 500 billion rials (about $15 million) of the sum has been paid to promote non-oil exports, he added.

More than 52 trillion rials (about $1.5 billion) is projected to be paid to boost domestic production, as well as promote tourism in the country, he noted.

There are around 85,200 industrial units active across the country, creating more than 2.65 million jobs, he said.

Iranian Central Bank Governor Valiollah Seif said On June 1 that the administration has placed the top priority on curbing the inflation rate and boosting domestic production. 

The value of Iran’s non-oil trade reached $21.214 billion in the spring, which corresponds to the first quarter of the Iranian calendar year, according to the Iran Customs Administration. 
Iran exported 25.061 million tons of non-oil products worth $10.867 billion in the three-month period. 

Iran’s major exported products included liquefied gases with the country’s key export destinations being China, Iraq, the United Arab Emirates (UAE), India and Afghanistan.