Unprecedented events of Iran Economy!
The first cabinet meeting of Persian new year (1396) held the other day with president Rohani pointing out the three unprecedented events in Iran Economy over a course of 15 years. The elected head of state recalled the followings as the major achievements and his legacy in his tenure:
- Double digits economic growth
- Single digits inflation rate
- Creation of 700,000 job positions in 2015/16
Dr. Rohani cited that also every single penny of required import foreign currency, was funded from non-oil exports, made the trade balance positive after-all and it shall be considered as the high point his administration.
In the Market
The stock market, Tehran Stock Exchange, was on track to open today’s session with solidly lower trading volume. With unofficial holidays coming ahead, it seems that until after Apr 03 the market would continue to be spent. The TEDPIX (+20.38 points, +0.03%) settled on 77,523.30 in day that all major industries were in a hibernate mode. IFEX (+3.00 points, +0.33%) performed better mostly due the volume of fixed income trades and stood on 855.90.
With only USD 21 mn trade value there will be nothing more left to talk about the today’s market other the fact that TCI (MKBT1, +0.51%) stamped the most positive points on the index (+17.26 points). The sister company MCI (HMRZ1, -0.27%) on the other hand was the looser of today’s board with a negative impact of 9.78 points
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