Iranian expert: All countries strive to return foreign currency from exports
Baku, Azerbaijan, Jan. 7
By Elnur Baghishov - Trend:
Returning foreign currency obtained from exports is a necessity in all countries, Iranian economy expert Abbas Hoshi said in an interview with IRNA, Trend reports.
Exporting goods, services and returning foreign currency are interrelated factors in normal trade processes, he said.
In order to develop exports, governments provide programs to gain income, he noted.
Exports are the country’s wealth; one product must be imported in exchange for each exported product, or the foreign currency obtained from exports should return to economy, he said.
A foreign currency commitment method was used during some period in Iran to make sure that the foreign currency obtained from exports returns, he noted.
Because of the lack of transparency in the Iranian economy, the foreign currency commitment method resulted in unhealthy economic relations and a group of products started to be sold at higher prices to the Iranian population, he added.