People's hope, confidence in controlling inflation the basis of economic stability, investment/After 26 years of inflation we have reached single-digit inflation rate; I demand that the Central Bank continue this path

The president described people's hope and confidence in controlling inflation as the basis for stability of the economy and investment, saying that some of the cancerous tumours are out of the banking system and the capital of the banks and their international connections have increased, emphasising: "With a great nation and enormous capital we will be able to overcome the problems".

Sun 04 - March 2018 - 11:39

Dr Hassan Rouhani attended a meeting with bank managers at the 57th annual convention of the Central Bank of the Islamic Republic of Iran on Sunday and said: "We have progressed in all economic indices and the role of banks in industry, agriculture and service is pivotal".

Banks decide for the future and prosperity of the nation, said Rouhani adding: "The policy of the 11th Government and measures by the Central Bank were successful based on economic indices".

He also went on to say: "By monitoring and transparency, we have reached the goal of single-digit inflation rate".

The President of the Islamic Republic of Iran said: "Some people believed climbing out of recession as the first goal and controlling inflation as the second one; but succeeded in both at the same time".

He continued: "All the malicious attempts of the enemies is to kill people's hope for the future and promote distrust among authorities".

"We know that some are trying to kill people's hope and future under the pretext of opposing the government," Dr Rouhani added.

Stating that people's trust and confidence in the Central Bank has increased, the President said: "With the great work of oil engineers, oil production and export have returned to their former conditions within a few months".

He also went on to say: "Openings are the result of the persistence of the people and the efforts of the diplomats".

In recent years, more than 2 million net jobs have been created, he continued, saying: "Based on all economic indices we have progressed; the role of banks in industry, agriculture and service is pivotal".

"With the new plan for renovation of old neighbourhoods and buildings, 280,000 new jobs will be generated," continued Dr Rouhani.

Stating that being unkind to bank managers was not fair, the President added: "Banks are not perfect but economic growth is the result of the great work done by banks".

"Banking relations with foreign banks have been improved and this path must be continued," said Rouhani adding: "Banks around the world have confidence in our banks and this is the result of transparent capital and balance sheet".

Stating that the government has presented three banking-related bills to the Majlis, the President said: "Ratification of these bills is important and effective in how banks around the globe view our banking system".

"Supervision of the central bank on and money circulation must increase," continued Dr Rouhani adding that the money in banks belongs to people.

"We have reached better conditions with regard to risk," said the President saying that evaluated with any index and yardstick, banks are better than before.

He also said: "Without interacting with the world, cheap financing is not possible. The Central Bank of Iran, the government and other branches of the state have cooperated to solve the problem of illegal credit institutes".

"The central bank allocated around 20 trillion tomans for saving people from illegal credit institutes," Dr Rouhani continued.

Stating that growth and employment must be everybody's goal and wish, the President of the Islamic Republic of Iran said: "We appreciate our banks' services".

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