3. The government’s strategy for economic stability and the organization of the monetary and currency system
According to the report of Iran Economist, since one of the most important priorities of the government is to create transformation in the country’s macroeconomics, reduce the inflation rate, create economic stability and order the monetary and currency system of the country, in this regard, there are 3 important strategies to control liquidity and the growth of the balance sheet of the banking network. The management of foreign exchange demand and the management of the country’s currency supply were given priority.
Experts believe that the 13th government has achieved most of its economic goals during its activity.
* Railing the central bank to control the liquidity and balance sheet growth of the banking network
The prudential policy of the central bank in the 13th government with the aim of controlling the creation of money and liquidity and as a result improving the quality of the balance sheets of banks and financial institutions caused a serious effort to reduce the growth of liquidity from 40% to 31% last year, control the creation of bank money It should be created through the regulation and strict implementation of the control of the growth of the banks’ balance sheets and the updating of the rules governing the control of a certain amount of the balance sheets of the banking network.
Also, these policies led to controlling the amount of assets and liabilities of banks and credit institutions, limiting the facilities of banks with unhealthy balances to 200 million Tomans, periodically limiting the facilities of banks with overdrafts, prohibiting the payment of facilities to related parties of non-performing banks, and also connecting the Samat system to other systems in the country. and be established outside the bank.
* The government’s actions in managing foreign exchange demand in the country
In establishing a healthy economic system, in managing the demand for foreign exchange in the country’s market and preventing the abuse of traders, the government has taken important measures such as curbing and controlling speculative activities and currency smuggling, prioritizing the supply of foreign currency needed for the import of essential goods such as medicine and medical equipment, and banning He imported goods without registering an order.
Also, issuance of foreign currency deposit certificates of the Central Bank under the agency of the National Bank with a three-month receipt and the possibility of settlement through the delivery of currency notes and reducing the monetary policy and reducing the motivation for speculative and speculative behavior are among other things worth mentioning in this field.
* Balancing the chaotic currency market with the strategy of managing currency supply in the country
During its establishment, the 13th government has implemented serious plans to control and balance the chaotic currency market in the country; In this regard, we can mention the announcement of policy packages for the return of foreign exchange from exports (which will play an important role in regulating the foreign exchange market and the growth of the government’s revenue treasury), announcing the exemption of any amount of foreign currency entering the country from paying taxes, and strengthening the market consisting of foreign exchange transactions. .
Establishing multilateral monetary agreements that will play an influential role in breaking the dominance of the dollar in the country, as well as achieving a balance of foreign exchange resources and expenses in the remittance market by establishing coordination between the ministries of security, agricultural jihad, treatment and medical education with the central bank, are among other things that can be done. It is mentioned.
* Linking the financial relationship between the central bank and the government
In realizing the sale of government debt securities to banks in order to prevent the effects of financial policies from spreading to bank balance sheets, the government was able to achieve a financial link through the central bank’s purchase of 1195 billion Rials of government Islamic financial bonds by holding 43 auction programs last year. between himself and the central bank.
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