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31 August 2019 - 17:43
CBI chief says Iran’s economy steady again

Governor of Central Bank of Iran Abdolnaser Hemmati on Saturday gave an upbeat report about recovery of Iran’s economy, saying that national economy currently enjoys stability.

He made the remarks in his speech to the 30th Conference on Islamic Banking underway in the Iranian capital.

Hemmati said that the restoration of stability in the Iranian economy is fundamentally due to stability in the forex market coupled with a gradual fall in foreign exchange rates over the past months.   

He said that the gradual reduction of monthly inflation since last March to levels under 1% this month is indicative of the reduction of the impacts of fluctuations of foreign exchange rates.  

Besides the efforts to bring liquidity under control, the CBI is now most concerned about ways to provide financial resources for the production sector, Hemmati said.  

The partial improvement of some economic indicators compared to figures from the last year is indicative of US failure to achieve its goals, the CBI governor said, however, noting that removal of Iran’s economic problems, particularly reforming the national budgeting, requires sound measures and policies.   

News Code 190755

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