Capital market’s contribution to GDP above 30%: TSE head

TEHRAN, Jun. 22 (MNA) – Head of Tehran Stock Exchange (TSE) Ali Sahraei announced on Saturday that capital market’s contribution to GDP in Iran hovers around 30 percent to 35 percent.

“The average value of the stock market and capital market in Iran, relative to GDP, stands between 30 percent to 35 percent, which is not a satisfactory figure,” the TSE head said.

“The figure should be increased up to 50 percent,” he added.

According to Sahraei, there are one million active trading codes at TSE, from the total of 10 million ones, which is not a satisfactory number, either.

Iran needs to improve penetration rate of the capital market in its economy, he urged.

In the current Iranian calendar year (ending March 20, 2020), the government is determined to review and modify its monetary policies about setting foreign exchange rates, curb the rampant inflation and high liquidity volume and supply the present budget deficit via relying on stock market.

HJ/FNA 13980327001035

News Code 146747

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