The downward trend of the monetary base continues to curb inflation

According to Iran Economist, citing the public relations of the central bank, Mohammad Reza Farzin, in this meeting, which was attended by the president, the attorney general, the minister of economy and finance, the head of the program and budget organization, the minister of peace, the minister of oil, the minister of agricultural jihad and other members. The assembly was held together with the members of the Money and Credit Council and the members of the executive board and managers of the central bank, he stated: in line with the new policies of the central bank with the axes of controlling and managing liquidity growth with the aim of curbing inflation, regulating and managing the currency market, strengthening supervision and Reforming the banking system, strengthening the governance of the rial, strengthening currency and monetary diplomacy, managing inflationary expectations, and increasing the confidence of people and economic activists in the future of Iran’s economy are emphasized.

The Governor General of the Central Bank said regarding the actions of the Central Bank to regulate and manage the foreign exchange market: strengthening the supply side of foreign exchange with measures such as following up on the return of foreign exchange from exports to the country’s economic cycle, using the capacities of neighboring countries and trading partners, and diversifying the methods of The return of currency from the trade is in progress.

He added: on the demand side, with the approach of meeting the real needs of foreign exchange, the annual preparation of the foreign exchange expenditure plan, the supply of basic commodities in foreign exchange portal, the establishment of the Iranian currency and gold exchange center, the change in the approach of monitoring the country’s foreign exchange expenditure and controlling the consumption of foreign exchange needs. The need for the foreign currency account of the applicants was put on the agenda and satisfactory results were obtained for the optimal management of the country’s foreign exchange market.

The Governor of the Central Bank stated: We are now in a good position in terms of foreign exchange reserves with foreign exchange diplomacy and moving towards the release of blocked resources in other countries, and we will try to strengthen these reserves with future plans. will have. We will also use the capabilities of the Asian Exchange Union, which is chaired by Iran, to expand interactions.

Farzin said: Designing a currency stabilization fund, designing and setting up new systems for foreign exchange transactions, opening a central exchange for foreign currency and gold in Iran, designing and issuing foreign exchange bonds with the aim of financing production inside the country, and reforming procedures for clearing export obligations are among other measures. The central bank is in line with the implementation of the economic stabilization program and stability in the currency market.

* The burden of financing the country is borne by the banking network

Referring to the importance of the banking network in the country’s financing system, Farzin said: About 89.9 percent of the country’s financing is the responsibility of the banking system. In the meantime, the capital market also provides about 10% of the financing load and only 0.1% is supplied by foreign investors, which shows the heavy pressure of the country’s financing load on the banking network.

He added: Based on this, the general approaches of the central bank’s credit policy include strengthening working capital, chain financing in line with non-inflationary financing, strengthening the financing of knowledge-based companies, improving micro financing in such a way that the economic system and production The country should not suffer interruptions and at the same time inflation control programs should be implemented well.

Realization of 110% payment of marriage and childbearing facilities

The Governor General of the Central Bank explained regarding the payment of marriage and childbearing facilities, which is also emphasized by the presidency: While the payment of 111.8 Hamats of marriage facilities was approved until January 7, 1402, more than 129 Hamats of marriage facilities have been paid. which indicates a 115% performance by the banking network in 1402.

He added: Also, by January 7th, payment of 38.2 percent of childbearing facilities had been approved, and more than 35.5 percent of childbearing loans have been paid to applicants, which shows the fulfillment of 93% of the above tasks.
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Farzin said: In total, 110 percent of the assigned tasks regarding marriage and childbearing loans have been paid.

The Governor General of the Central Bank stated: Since the payment of marriage benefits to all applicants is one of the concerns of the Honorable President of the Republic, and also due to the high number of applicants and the importance of the issue for members of the society, written programs in the Central Bank for the payment of marriage and child benefits to We have applicants so that all applicants can have access to this facility. This program will be implemented in the coming weeks with the provision of the necessary resources from the banking network.

Regarding the financing of knowledge-based companies, Farzin also said: In the first eight months of the year, 1541 thousand billion rials were paid to knowledge-based companies, which shows a growth of 71.8% compared to the same period last year.

Regarding the central bank’s plan to reform the banking system and resolve disputes, the governor of the central bank said: reforming the relationship between the government and the banking network and the central bank, reforming the relationship between banks and the central bank, strengthening the capital adequacy ratio of banks, and strengthening the intelligent and multi-layered supervision of banks. Center on the activity of the banking network is on the agenda, and if a bank cannot take steps in the direction of correcting and resolving the discrepancy, we will go to the decision operation.

Referring to the results of stabilization policy in reducing the growth rate of liquidity as the main factor of inflation control, Farzin stated: the growth rate of liquidity has reached 26.2% from 42.8% in Mehr 1400 at the end of November this year and by the end of the year with the strict implementation of the control program Inflation is expected to reach the 25% growth target.

He said: Regarding the growth rate of the monetary base, which was around 45% at the end of April this year, it reached 38.5% in November, and it is expected that it will continue to decrease.

Referring to the 4.7% growth of the country’s economy in the first 6 months of this year, Farzin added: 4.7% economic growth including oil and 3.6% growth excluding oil indicates the country’s return to the path of long-term economic growth, and we hope that with the continuation of the stabilization and forecasting policy Making the economy more acceptable, we will witness the prosperity of the country’s economy as much as possible.

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