CBI new policies improved stability in Iran's economy
Tehran, Iran, Aug.31
Governor of Central Bank of Iran (CBI) Abdolnaser Hemmati stated that the foreign exchange policies helped to control the market and reduce rates, which led to stability in the economy, Trend reports citing IRNA.
The official emphasized that the inflation rate from March to August 2019 has dropped to less than one percent and the fall of foreign currency rate effected prices.
"Currently, the CBI main concern is to provide finances for production development alongside control of liquidity. In first four months of current Iranian year [started March 21, 2019], banks have allocated around $31 billion to working capital of production units, and 60 percent of the amount was in form of advances," he added.
"From July 22 to August 22, the inflation rate was minus one percent. The halt in rise of housing price from June 22 to July 22 brought stability in the sector. In this month, transactions in the housing sector in Tehran dropped significantly to 72.6 percent comparing to same month last year, and we will see further decrease in housing price in Tehran and provinces," he said.
The CBI Governor noted the increase by 5.6 percent in the trade of industrial products at the stock exchange indicating production growth in May 22-June 22, 2019.