Iran's commerce minister: Central bank must be independent from government
Azerbaijan, Baku, Sep.3/ Trend R.Zamanov
The Central Bank of Iran should be completely independent from the government, Iran's minister of Economic Affairs and Finance Ali Tayyebnia said on Tuesday.
"The independence could not be achieved unless the budget plan provides a balance between the government's revenues and spending," the ISNA News Agency quoted Tayyebnia as saying.
"In order to take out the oil revenues from the budget plan, Iran can replace it with tax revenues in the coming years' budget plan," he said.
"The government should also cut some spending," Tayyebnia said, adding the first priority should be constructional projects.
He further criticized the previous administration's orders to the central bank.
"Past experiences show that increasing the liquidity will not snap the country's economy out of recession," Tayyebnia said.