29 Mar 2024
Tuesday 3 September 2013 - 18:27
Story Code : 47873

Central bank must be independent from government

ILNA: The Central Bank of Iran should be completely independent from the government, Irans minister of Economic Affairs and Finance Ali Tayyebnia said on Tuesday.
"The independence could not be achieved unless the budget plan provides a balance between the governments revenues and spending," Tayyebnia added.

"In order to take out the oil revenues from the budget plan, Iran can replace it with tax revenues in the coming years budget plan," he said.

"The government should also cut some spending," Tayyebnia said, adding the first priority should be constructional projects.

He further criticized the previous administrations orders to the central bank.

"Past experiences show that increasing the liquidity will not snap the countrys economy out of recession," Tayyebnia said.

By ILNA

 

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