• time : 11:28:19
  • Date : Mon Apr 13, 2020
  • news code : 192012
Ministry of Economic Affairs and Finance performance was acceptable last year
The performance of the Ministry of Economic Affairs and Finance was acceptable in 1398, and the government was able to achieve 432 thousand billion tomans for the country's budget without borrowing from the central bank, the First Vice President stated.

(SHADA: TEHRAN) -- Today, during a meeting with the deputies and managers of the Ministry of Economic Affairs and Finance, Eshaq Jahangiri said that the government was forced to change some economic policies after the imposition of US sanctions, adding: Unfortunately, in recent weeks, we have faced the effects and consequences of the coronavirus in the country, which requires the development of new economic policies and programs in consultation with experts and economists.

One of the most important policies of the government was to increase the resilience of the people against the pressures of the oppressive US sanctions. Today, we need to increase this resilience to the pressures of the coronavirus outbreak.

Jahangiri said that there were restrictions on the government's access to its financial resources due to sanctions, adding: However, from the beginning of the coronavirus crisis, the government planned to pay facilities at a preferential interest rate of 12% to the affected firms and to provide conditions to meet the needs of the vulnerable.

I have repeatedly said that Iran is a rich country and if it cannot make the best use of this wealth for the welfare of the people, it is the fault of our managers. The country's assets are 7,000 trillion tomans, and this is apart from oil and gas resources and the country's assets in the field of mines and metals, the first vice president noted.

Emphasizing that one of the most important programs of the Ministry of Economy at the moment is not to put people in trouble, he said: 49 million of our people have justice shares, and today the value of their companies and stocks has increased.

The first vice president stated that a solution must be found so that the shareholders of justice shares can sell part or all of their assets, adding: I am sure that the most important point in the message of the Supreme Leader, which was announced on Thursday, was to find a way to help the people.

Jahangiri further called on the subdivisions of the Ministry of Economic Affairs and Finance to focus on solving the problems of small and medium enterprises so that they do not collapse during the coronavirus crisis.

The first vice president also assessed the other mission of the Ministry of Economy and Finance as planning to revive the economy during the post-coronavirus period, saying that the ministry needs to set goals to create jobs, sustain growth, reduce inflation and increase budget resources.

The Ministry of Economy is responsible for securing the country's revenue in a situation where the role of oil in the country's budget has diminished and should play a good role in privatization, generating income from assets and customs, and achieving tax goals, he added.

Fortunately, at the beginning of this year, the stocks of state-owned companies in the securities and exchange organization were well offered, and the cession of other companies would create good resources for the government, Jahangiri stated.

The sale of banks' assets also plays a decisive role in the country's economy, because with the increase of banks' resources, the power to pay facilities increases, which is an important mission of the banking system in the new conditions of the country, the first vice president noted.

He stated that the government intends to strengthen the private sector affected by the coronavirus in the fields of industry, agriculture and services and said: We must be able to improve the business environment according to forecasts to provide conditions for the growth of the agricultural sector in this year, and the large industries in the stock market and public and private companies that are involved in the production and services of the country to continue their positive performance.

Jahangiri further said that the capital market should continue its growing trend, adding: At the same time with the supply of shares of new companies, companies that are currently listed on the stock exchange should increase their floating shares. The capital market is one of the points that can play a significant role in guiding the country's liquidity and prevent the movement of liquidity to other markets.

In another part of his speech, the first vice president said: In the last quarter of 1398, the country's economic growth was positive with oil and without oil, and the country's employment was in good shape, with more than 400,000 new jobs created.

Pointing to the role and position of the Ministry of Economic Affairs and Finance in various sectors, he referred to the reports presented at the meeting by the Deputy Ministers regarding the performance of the Secretariat of Free Zones, the General Treasury, the Privatization Organization, the Central Insurance, the National Tax Administration, the Organization for Collection and Sale of State-owned Properties, the Securities and Exchange Organization and said: In 1398, the performance of the Ministry of Economic Affairs and Finance was acceptable and the government was able to achieve 432 thousand billion tomans for the country's budget without borrowing from the central bank, which was set at 386 thousand billion tomans in the meeting of the heads of branches.

In the field of taxation, although the country's tax capacity may be more than 140 thousand billion tomans, in the difficult year of 1398, which was not a year of prosperity due to sanctions, more than 143 thousand billion tomans of tax have been collected, which is 30% more than of last year, Jahangiri said.

The first vice president further said that the world's capital markets have collapsed today, adding: Fortunately, the growth of indicators and the movement of liquidity in the Iranian market have been on the right track.

Jahangiri also praised the volume of activity of state-owned banks and the banks under Article 44 in the country's economy and said that the volume and price of the total state-owned companies is very high: The value of these companies is 2700 thousand billion tomans, which unfortunately have a management problem, and I hope that by creating the integrated system of state-owned companies, their performance will be transparent to the public.

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