• time : 10:57:19
  • Date : Tue Jan 05, 2021
  • news code : 203309
Stock market is on the right track
The stock market is now on the right track and has reached a stage in terms of performance that can be trusted, the Minister of Economy said.

(SHADA: TEHRAN) -- On the sidelines of the cabinet meeting, Farhad Dejpasand said: Institutionalizations have already taken place in the stock market, and it can be said that today almost all publishers have market makers, and this is one of the fundamental changes.

Except for the peripheral variables that affect the stock market, we do not have any particular disruption in the market, he added.

Sometimes the policies that are made in different sectors affect the market, which is natural; for example, if a price floor is to be set for a commodity group and a ceiling is to be released, it is in the interest of that group, but because it is badly reflected, it has the opposite effect, Dejpasand said.

In response to a question about the foreign exchange market, he said: Analyzes for the future emphasize that the exchange rate is stable and prone to decline.

The Minister of Economy also stated about next year's budget bill and said: The Joint Commission of the Islamic Consultative Assembly approved the general budget and based on a meeting held in the office of the President with the presence of the heads of the two branches and other officials, the Plan and Budget Organization and related agencies will cooperate to the maximum so that the budget can go through its steps in the best way.

Dejpasand said that five-twelfths of the 1400 budget will be implemented in the twelfth government, adding: The esteemed president emphasizes that next year's budget must have the necessary stability and consistency, and this government has a national view of the budget.

Regarding the financing of the government through the issuance of bonds, the Minister of Economy said: Selling bonds to the people is one of the best ways to finance the budget. If this is not done, we will have to borrow from the Central Bank, which has many negative consequences.

So far, one sheet of government bonds has not been faced with even an hour delay in settlement, he stated, adding: For the next year, the transfer of 95,000 billion Tomans of government assets is predicted.

As we have transferred about 33,000 billion tomans of government properties and shares in state-owned enterprises this year, next year, if the conditions are favorable, it can be achieved without any problems, he noted.

Regarding taxes, he said: In this regard, we will act in such a way that there is no concern for taxpayers or private sector activists.

In response to a question on the issue of inflation, the Minister of Economy said that this issue is one of the serious concerns of the officials, adding: The government economic coordination headquarters spends a lot of time controlling inflation, and this issue is emphasized by the President.

He said that in order to prevent rising prices, a liquidity control policy is pursued so that demand does not increase exponentially.

Sometimes the cost of goods increases with an increase in the price of imported raw materials and the price of currency, but sometimes somepeople try to sell at a higher price, Dejpasand added.

Such individuals must be dealt with through regulatory bodies; the Ministry of Mining Industry, Trade, the Consumer and Producer Protection Organization and the Suspending Organization of Iran currently have plans to deal with overcharging, he stated.

For inflation caused by the exchange rate, we have to wait for exchange rate policies to respond so that the exchange rate is balanced, Dejpasand said.

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