Iranian Minister says rising trend of prices has slowed down

Business Materials 3 February 2021 00:09 (UTC +04:00)
Iranian Minister says rising trend of prices has slowed down

BAKU, Azerbaijan, Feb. 3


The rising trend of prices has slowed down and the foreign exchange market has been balanced, the Iranian Minister of Industry, Mine, and Trade said.

Alireza Razm Hosseini attended the coordination meeting of the special plan for monitoring the market at the end of the Iranian year (ends on March 21, 2021), today on Tuesday, Trend reports citing Tasnim News Agency.

The Minister of Industry expressed hope that the distribution of goods will be done with proper supervision.

"The inventory of strategic goods is in appropriate state. There is no problem in supplying essential goods. According to the agreement reached with the central bank, there is no problem in providing foreign exchange to import basic goods," he said.

He promised to solve the issue of the lack of edible oil at the market. He went on to say that the cars, home appliances, and clothing market is balanced. RazmHosseini added that the move towards equilibrium price indicates an increase in production and supply.

"The main focus of the Ministry of Industry is to increase these two factors," he said referring to production and supply.