1400 budget bill prepared based on country's conditions/ Changing budget structure certainly unacceptable/ Gov't always sought to back stock market

In the one hundred and ninety-fifth meeting of the cabinet's economic coordination board, which was held on Sunday and chaired by President Hassan Rouhani, the head of the Plan and Budget Organisation presented a report on the review process of the 1400 budget bill in the Islamic Consultative Assembly.

Sun 10 - January 2021 - 13:44

After the report, Dr Rouhani said, "The budget bill is the result of detailed and comprehensive studies and review by government experts on the country's economic requirements, and this budget has been prepared based on the rules and conditions of the country".

The President added, "The government has always welcomed the advisory opinions of experts and economic activists, and also welcomed the views and suggestions of the esteemed representatives in the parliament, but changing the structure of the budget is certainly unacceptable."

Dr Rouhani said, "The time of reviewing the budget is not the time to change the main rules and regulations of economic activities and should not cause confusion to economic executives who are the propellers of the country's development".

On the stock market, the President said, "The stock market is a transparent trading platform, and the government has always sought to support the stock market and considers the first step as the observance of the law in it".

Dr Rouhani also stated that the stock market has its own special mechanisms, and stressed, "Its policy making should be done through the Supreme Council of the Stock Exchange and non-expert interventions in the stock exchange should be avoided".

The President added, "The mission of this market is to discover the real price of products and the government's principled policy is to price goods based on supply and demand mechanisms and competitive market rules, which ultimately benefits the market, the real producer and consumer".

Referring to the government's plans to control and counteract the unreasonable increase in the price of some commodities, the President stated, "The government is working to facilitate the activities and reduce the limitations and increase trust in well-established and well-known and effective companies that have acted consistently".

 

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