Rouhani: Iran facing imbalance of payments, funding and banking system

Speaking at the parliament earlier this morning, Iran’s president Hassan Rouhani named imbalance of payments, funding and banking system among country’s major problems, Iranian state IRINN TV reported live.

“To deal with these imbalances, we need enough of capabilities and a cabinet that should be able to handle these issues,” Rouhani said, noting that every effort needs to be made for reaching the goal.

Noting that Iran is in a difficult situation because of international pressure, Rouhani said that imports from direct and indirect oil revenues have shown great growth, despite outside threats.

Among other key issues, Iranian president named the existence of different foreign currency prices, and lack of diversification in income sources.

“The 11th government should be able to address these issues, and provide Iranians with better living conditions,” Rouhani said.

“Another priority of the government is not reduce growth of liquidity, so that inflation in the country could be curbed, and that in turn will lead to better investment opportunities and establish positive macroeconomy results,” Rouhani underscored.

The president named transparency, maximizing diversity of resources and maximizing efficiency of activity as major goals for improving Iran’s economy.

As for local economy, Rouhani said that further job creation would help.

“Government, as one of first steps, will try to establish good relations with the banking system and economic industry,” Rouhani underscored.

He went on to note that the new government will follow foreign policy, based on moderation.

“Language of moderation in government’s foreign policy is a realistic, prudent and balanced move. Extreme has no place in moderation. Foreign policy should be based on serving broad development,” Rouhani said.

Iranian president spoke in the parliament, defending his earlier submitted list of candidates for ministries’ posts. It should be noted that Rouhani’s nominees will be discussed and assessed by the parliament on Aug. 15, after which the decision will be made on which candidates have been approved.

Rouhani won the presidential elections in Iran on June 14, securing over 50 percent of total votes in the country. On August 4, he went through the swearing-in ceremony, and was officially pronounced the new president of Iran.

By The Journal Of Turkish Weekly


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