Economy returning to normalcy as a result of CBI proper measures: Hemmati

TEHRAN, Aug. 31 (MNA) – Governor of the Central Bank of the Islamic Republic of Iran (CBI) Abdolnaser Hemmati says the country’s economy is more stable now compared to last year as inflation rate loses momentum.

The CBI governor Abdolnaser Hemmati made the remarks in the 30th edition of Islamic Banking Conference in Tehran on Saturday.

During the conference, Hemmati said that as a result of the proper policies that the CBI took in monetary and foreign currency field, the situation of the country’s economy is returning to normal despite being under the most unprecedented sanctions.

“Thanks God, we are witnessing the return of stability to the country's economy, the basis of which is the stability of the foreign currency market which has witnessed a gradual decline in the prices in the recent months,” the CBI governor said.

Hemmati also said that the inflation rate is losing momentum as a result of the declining prices in the forex market.

He further described liquidity management and helping the production sector as two major goals of the CBI, adding that the 5.6% increase in the present of industrial companies on the exchange market shows a gradual improvement in producing industrial products.

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News Code 149516

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