Iran's Ministry of Industries, Mines and Trade announced that some 20 percent of the Iranian industrial units are facing recession, Financial Tribune daily reported on Monday.

"There are close to 85,000 industrial firms active in the country, some 50-60 percent of which are working at full capacity, while 15-20 percent work below 30 percent of their capacity," said the industrial affairs deputy with the ministry, Mohsen Salehinia.

"These units are either in need of working capital, new machinery and equipment or facing sales problems," said Salehinia.

In July, the Iranian ministry announced that the government had allocated 300 trillion rials (8 billion U.S. dollars) in the current fiscal year, which is March 2017-18, to spur growth in Iran's manufacturing sector.