The investment growth rate was 7.7%/ decrease in the government’s share of capital market capacity
According to Tejarat News, Seyyed Ahsan Khandozi said at the opening ceremony of the 15th International Financial Industry Exhibition (Stock Exchange, Bank, Insurance) that investment growth was negative, but with the pressure placed on important players last year, the investment growth went from negative five in 1400 to positive seven. 7. We arrived in the previous year and got out of the black hole of the 90s; We plan to continue this path this year.
He added: Also, the entry of banks into independent investment was approved this year. The government’s view is to revive the disciplined investment role of the banking network. The preparations for the participation of financial institutions have been prepared and the recent meeting of the Money and Credit Council made a good decision in this regard.
The Minister of Economy continued: The National Development Fund should be used to create a new economic complex.
Khandozi added: Productivity is an opportunity for the financial industry.
Organization of non-performing financial institutions
He further informed about the reorganization of the financial institutions and with reference to the performance of the financial industry in the past year, he said: the ratio of facilities to deposits in the banking network increased from 83.2 in March 1400 to 85.1 in March 1401. Simultaneously with this increase in the non-current claims of the banking network from 4.8 in March 1400 to 4.4 in March last year, which shows the efforts of the banking network. Also, the share of microfinance increased from 13% to more than 15%, and the share of knowledge-based companies increased by 165% in the previous year.
Referring to the increase in the capital of public companies from 181 hemats in 1400 to 284 hemats last year, he said: corporate bonds had a significant increase. Also, financing increased from 32 to 124 last year, which experienced a fourfold growth. The share of corporate bonds increased from 13 to 27 percent.
Allocating a smaller share of capital market capacity to the government
Stating that the government’s plan is to allocate a smaller share of the capital market capacity to the government, the Minister of Economy said: From the point of view of the government’s analysis, the financial industry is the pillar of financing the real part of the economy, and if we do not have a strong financial industry, we should not expect the economy to grow. Iran will experience good growth. Of course, the independent growth of the financial industry is not desirable and we must place the country’s financial industry in relation to the real sector and the production of Iran.
Emphasizing that the financial industry cannot be used only to control inflation, Khandozi said: apart from negative policies that only control liquidity, we need a positive policy from the credit sector. If we are going to have production growth, we cannot tolerate the presence of non-aligned financial institutions, and a good agreement has been reached between the Ministry of Economy and the Central Bank to organize these institutions.
Source: ISNA