TEHRAN, Iran, Aug.24
Trend:
Iran's non-oil economy is expected to grow, leading to preservation of the national currency's value, said the Governor of the Central Bank of Iran(CBI) Abdolnasser Hemmati, Trend reports via IRIB.
"Statistics from the start of the current Iranian year (started March 20,2020) until July 21 show the monthly increase in the amount of industrial units was positive, indicating improvement in the country's non-oil economy," said Hemmati.
"It is expected that the non-oil economy growth would compensate the losses of the first three months of the current Iranian year (started March 20,2020) caused by the coronavirus spread," he said.
"The Central Bank of Iran has suggested that the government would assign $17 billion to compensate for the damages caused by the coronavirus spread," he said.
"Preserving value of national currency is related to economic growth. The value of national currency would improve if inflation is controlled, alongside expanding export and controlling import. The CBI's responsibility is to control inflation and help with economic growth," he added.
"The members of the parliament are reviewing the plan to reform the banking system, which would lead to positive results in the coming years," he said.
"Our economy is based on banks and they provide 90 percent of finances, therefore there is need for healthy and strong banks to provide services to the financial market," he said.
"Liquidity has been kept under control and the monetary base during the first five months of the current Iranian year (started March 20,2020) had a 4 percent growth, while liquidity had a 12 percent growth," he said.