News in Brief
Iran’s foreign debt shrinks by 20%: IMF
TASNIM – The International Monetary Fund (IMF) in its latest report said Iran’s foreign debt has decreased by 20 percent and that it is in a better situation in this regard than 132 countries.
Reviewing the debt rate of 162 countries compared to the gross domestic product (GDP) in 2022, the IMF announced a considerable improvement in Iran’s situation in this respect.
According to the calculations of this international body, Iran’s total gross debt in 2021 had been equivalent to 42.4 percent of the GDP.
Accordingly, the Iranian government’s debt in 2021 had reduced compared to a year earlier.
Iran’s foreign debt has decreased by about 30 percent during the two-year tenure of the administration of President Ebrahim Raeisi. Iran’s global ranking of foreign debt improved in 2022.
55m ton target set for annual steel output by 2025
PRESS TV – Iran’s annual steel production capacity is expected to hit a target of 55 million tons by 2025, a senior member of the Board of Directors of the Iranian Steel Producers Association (ISPA) said.
Bahador Ehramian stated that Iran’s steel output capacity had increased by more than six times in 20 years, to reach a current figure of 45 million tons per year.
Ehramian pointed out that Iran’s steel output capacity will increase by more than 22% within the next two years.
He said more than a half of the current steel output in Iran is exported to other countries, adding that Iran seeks greater access to export target markets as the domestic demand for steel is expected to stay at a present level of 20 million tons per year in the coming years.