Government supports stock market: VP

January 12, 2021 - 11:22

TEHRAN- Iran’s first Vice President Es’haq Jahangiri stressed that the stock market is an independent body, but the government always supports it.

The government has a duty to support the stock market and do its best to address the concerns of shareholders and prevent them from being harmed, the official emphasized.

“The government does not want and should not interfere in the rules, regulations and mechanisms of the stock market, at the same time, people should pay attention to its economic mechanisms in order to enter this market and pay attention to the opinions and advice of experts in this due”, Jahangiri noted.

Stating that the stock market mechanism is a purely economic mechanism, the official said: "The decisions of the Supreme National Security Council are valid for the government and the government's mission at this time is to support these decisions and rational methods because at the current stage the stock market has shown that it can be a good place to finance public and private enterprises.”

Last week, Finance and Economic Affairs Minister Farhad Dejpasand said that the stock market is now on the right track and has reached a stage that can be trusted in terms of performance.

“Except for the peripheral variables that affect this market, we do not have a specific market disturbance”, the minister stated.

Sometimes the policies that are made in different sectors affect the market, which is natural, he added.

For example, if a price floor is to be set for a commodity group and a ceiling is to be released, it is in the interest of that group, but because it is badly reflected, it has the opposite effect, Dejpasand explained.

The vice-chairman of Tehran Stock Exchange (TSE)’s board of directors has recently said that the stock market will spend the last months of the current Iranian calendar year (ends on March 20, 2021) calmly.

Mentioning investigation of the periodical (six-month and nine-month) reports of the companies’ performance, Javad Eshqi-Nejad said that given the foreign currency exchange rate situation and the appropriate sales volume, in this period, almost the expectations of listed companies have been met and positive results have been provided for the capital market.

Regarding the continuation of the stock market trend in the next three months, he said: “In this regard, the main issue is political relations and international behavior; We seem to be achieving good results in the international arena.”

While predicting that the stock market will be calm in the last months of this year, he said: "But for the next year, according to the budget, we may face new events whose analysis can have special effects on various industries; in a way that these effects may be associated with some industries for the next 2-3 years.”


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