Sat Aug 13, 2022 16:24:39
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Dr Rouhani in the meeting of the Cabinet’s Economic Coordination Board:

Stability of commodity prices, balance in foreign exchange market gov’t main policy/ The current exchange rate not compatible with reality of the country's economy, will be declining

At Sunday's meeting of the Cabinet’s Economic Coordination Board, a report on the implemented and ongoing government plans to stabilise the foreign exchange market was presented by the relevant agencies.

news id: 119926 -

Sun 28 - February 2021 - 14:13

After the report, the President said that the government's concern is to reduce and eliminate livelihood pressures on people, adding, "During the last three years, the government has been confronting, fighting and neutralising sanctions in an economic war aimed at creating famine and economic insecurity”.

Emphasising the new atmosphere, Dr Hassan Rouhani added, "At this stage, we should not allow hardships and pressures on people's lives and livelihoods to continue. In this regard, the price of goods should be stabilised as an urgent and main policy of the government is for the prices to reach a balance”.

The President went on to point out that the government has always sought to bring the currency closer to its real price and does not consider the current price to be in any way in the interest of the country's economy, adding, "Sanctions disrupted the country's banking and foreign exchange relations and the profiteering of the sanction-traders intensified the effects of the economic war, which, thank God, is fading”.

Dr Rouhani pointed out, "The government is trying to create a consensus and coordination with all institutions and different parts of the country and reduce non-economic effects affecting the country's economic environment and the capital market and try to release blocked foreign exchange resources, can speed up the exchange rate faster and make it close to the real price”.

The President also referred to the new conditions created in the process of negotiations with countries that had blocked Iran's foreign exchange resources under US pressure, and expressed hope that we would see a declining exchange rate.

On the need to develop non-oil exports in order to implement the economy policy without oil, the President said, "As one of the powerful tools of the Economy of Resistance, the development of non-oil exports is very important to confront the oppressive and illegal US sanctions to realise Iran's right to participate in the world economy”.

news id: 119926

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