Iran’s economic revamp
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Building on preparations and the groundwork laid in the previous calendar year, the government will be implementing new decisions this year that will revolutionize the economy. The forthcoming 7th development plan bill, which will be presented to the parliament next month, will reveal the structural changes the government has in store. The Ministry of Economy, leveraging the expertise of elite and young professionals, is sanguine that this year’s economic policies will be more coherent. The government has proposed a written plan to ensure food security for the people. Meanwhile, in the banking and monetary sector, revolutionary measures are deemed necessary to address the current situation.
In terms of non-performing banks and ending the interest rate race, we have submitted proposals for changes to President Raeisi, which have been generally approved. The government expects the Central Bank to adopt a serious and unorthodox approach to these issues. The Ministry of Economy aims to disseminate information about facilitating business without turning a blind eye and ensure transparency in matters such as bank super-debtors and the financial status of state-owned companies. The government intends to take a rigorous stance towards wrongdoings committed by tax chiefs and state bank managers, with dismissal being the least punitive measure.
The government aspires to increase the proportion of pollution and value-added taxes returning from the capital to the provinces, while also overseeing the market and taxation of traders. The government seeks to discontinue the ineffective methods of the past regulatory system and hopes that the comprehensive trade system and support organization will succeed in this path. Additionally, the government aims to harness the capacity of the stock market for micro-investment options available to the populace.
While ill-wishers may endeavor to hinder the realization of these efforts and fuel inflationary and currency expectations, the government remains vigilant and attuned to the needs of the nation. With the government’s unwavering determination and the people’s resilience, Iran will triumphantly overcome these hurdles.