Iran Press/ Iran news: Highlighting the global economic landscape, Khandouzi pointed out that the world market demonstrated relative stability in the first four months of this year when compared to the previous year.
One of the notable achievements of the government was the substantial reduction in producer inflation, which plummeted from its historical peak of 103% in May 2021 to an impressive 32% in May of the current year, marking a remarkable 71 percentage point decrease.
During the conference, Khandouzi also shed light on the benefits of barter as an efficient method to minimize the cost of bank transactions. This approach has gained traction globally, with Turkey establishing a bartering center and China creating a dedicated city for this purpose. Iran, too, has tapped into this capacity and is set to continue leveraging it for future endeavors.
Addressing the trade relations between Iran and China, Khandouzi highlighted the formation of a joint commission, which has led to the review of investment proposals in various sectors. Notably, companies interested in railway and power plant projects have successfully concluded agreements with Iran.
In response to a query from the Iran Press reporter concerning the import of new and used cars, Khandouzi affirmed that the Central Bank has facilitated the supply of foreign currency for this purpose. The regulations pertaining to this matter are currently under revision, and the Minister of Industry, Mines, and Trade is working in conjunction with the Central Bank to establish a conducive framework.
Iran's oil revenues primarily collected in cash
Iran's Minister of Economic Affairs and Finance announced on Tuesday that the majority of the country's oil revenues have been collected in cash.
Speaking at the press conference, Ehsan Khandouzi stated that the current administration in Iran is actively seeking to diversify the sources of imported basic goods by utilizing barter mechanisms.
Khandouzi highlighted the advantages of barter-based methods, noting that non-governmental traders, both within Iran and in other countries, prefer this approach to minimize banking and non-banking costs and conduct business directly.
He further emphasized that between 25 and 30 percent of global trade is conducted through barter systems, with many countries now resorting to this method.
The private sector has shown significant interest in conducting trade through barter due to its cost-saving benefits.
Khandouzi also mentioned that China is constructing a city exclusively for barter purposes, while Turkey is establishing a global barter center in Istanbul.
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