EHRAN- TEDPIX, the main index of the Tehran Stock Exchange (TSE), dropped 2,330 points (0.11 percent) to 2,026,248 on Sunday, which is the second day of the Iranian calendar week.

TSE is one of the four Iranian stock exchanges, and the most important one. The other three ones are Iran Mercantile Exchange (IME), Iran Energy Exchange (IRENEX), and Iran’s over-the-counter (OTC) market, known as Iran Fara Bourse (IFB).

Head of Iran’s Securities and Exchange Organization (SEO) Majid Eshqi has said his organization’s current priority is to attract capital and direct liquidity towards constructive production.

Speaking at a meeting of the government and private sector dialogue council, Eshqi considered capital formation as the most important challenge of the economy and said: “Financing [economic projects] and directing liquidity towards production is the priority of the Securities and Exchange Organization.”

“[currently] The most important economic challenge [in the country] is the issue of capital formation because the rate of the mentioned item [capital formation] has been negative in the last 10 years and is estimated to be lower than the depreciation rate,” the official explained.

If the mentioned trend continues in the same way in the long term, it will cause non-development, depreciation of industries, and the stagnation of the economy, he noted.

“Injecting liquidity in the production sector is now considered one of our important goals, but we are facing a series of challenges among which the decrease in investor confidence can be pointed out,” Eshqi said.

MA