18 Jul 2024
Tuesday 25 August 2020 - 23:44
Story Code : 382385

Iran crawling out of coronavirus-led recession: CBI gov.

MNA The governor of the Central Bank of Iran announced on Tuesday that the country's economy is incrementally stepping out of the recession created due to the Covid-19 pandemic.

As Abdolnaser Hemmati said in an interview with a radio program on Tuesday, Iran's economy experienced a recession in the first four months of the current calendar year (starting on March 20) but as the monthly industrial indices indicate, the country is crawling out of this transient recession.

He noted that Iran's economy has been under the toughest pressures put by the US, but the CBI has been successful in overcoming the caused difficulties.

He added that the financial body has also been able to curb the growth of liquidity and the monetary base in the past five months and plans to control the inflation rate as well by its applied policies in the forex market.

Some economic experts believe that launching an exchange market for trading foreign currencies is going to be the best way for the country to overcome the current challenges of the forex market including the high rates.
Your Name
Your Email Address