Sat Oct 31, 2020 23:23:25
فارسی | العربية | English

President at the meeting of the Cabinet’s Economic Coordination Board:

A few people with factional, transient political motives should not be allowed to lay ground for realisation of evil wishes of this land’s ill-wishers/ Officials, activists should prevent disputes, keep country calm by their political wisdom/ Backing livelihood one of gov’ts biggest concerns

The President described supporting people’s livelihood as one of the biggest concerns of the government and said, "The government's plans in the field of people's livelihood and household economy are to create stability and a reasonable balance in the price of goods”.

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Sun 18 - October 2020 - 12:32

Speaking on Sunday at the 174th meeting of the Cabinet’s Economic Coordination Board, Dr Hassan Rouhani referred to the government's plans to combat the US economic war, and added, "Although inhumane and illegal US sanctions have reduced foreign exchange earnings significantly, more than 2.5 years after the sanctions, the government has prevented the realisation of America's sinister goals of collapsing our country”.

Emphasising the need to maintain political calm and the need for cohesion in the country, Dr Rouhani said, "Internal conflicts are among the axes on which the enemies of this land have invested along with their intense and difficult economic war”.

Referring to the need to be vigilant against the conspiracies of the enemies, the President stated, "I call on all officials, activists and those who care about the system and the country to prevent conflicts and disputes while maintaining political calm and rationality, and not to allow a few people with partisan, factional, and transient political motivations pave the way for the realisation of the evil desires of the ill-wishers of this land”.

Dr Rouhani further stated that the government considers the private sector as the driving force of the country's economy, stating, "Comprehensive support for increasing the role of this sector in the economy and handing over the field of production and export, especially to knowledge companies, will have an important place in the government’s economic policies”.

Stating that monetary policy has been volatile in recent decades, the president said, "The central bank's move is a timely and important measure to manage interest rates based on market mechanisms, not on orders that disrupt market stability”.

Dr Rouhani pointed out, "The Central Bank should use legal and open market tools to guide interbank interest rates. Open market operations are a useful move to drive government securities and liquidity, and an important measure to encourage public participation and market dynamism”.

Emphasising that this strategy should continue stronger, the President said, "The Central Bank should contain and mitigate the damage to the economy through monetary and credit facilitation, in cooperation with the Ministry of Economy and Finance”.

Dr Rouhani called the performance of the government in fulfilling the obligations of Islamic financial instruments so far reliable and added, "The private sector has always been present in the capital market in the supply of new Islamic financial securities during the last decade and if we want the permanent presence of the private sector and government in the capital market, we should use new tools to finance them”.

The President stated that there is still a lot of potential for use in the field of issuance and supply of Islamic financial securities, and said, "Using these opportunities, a new chapter of market-based financing will be opened".

news id: 117831

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