Stock market good support for private sector and production boom

The Minister of Economic Affairs and Finance stated that the current stock market conditions are such that it can be considered as a base for financing the private sector and boosting production.

(SHADA: TEHRAN) -- On the sidelines of today's cabinet meeting with reporters, Farhad Dejpasand described the development of the country's capital market as a positive achievement of the country's economy over the past year.

He emphasized the necessity of liquidity entry into the stock market, and said: In the past year, there has been a special focus on this policy, which has so far been successful.

According to the Minister of Economic Affairs and Finance, the government is working to provide the necessary conditions for the cession of banks' assets, which will enable stock exchange traders to experience a greater variety of transactions.

He also explained about the parallel markets with the stock market and said: As cash holders prefer to invest in the stock market, thus, if the stock market remains stable, it will gradually provide the basis for the acquisition of disruptive markets.

The Minister of Economy pointed to the currency market as a high-risk market, stating that the growth of the stock exchange will prevent the entry of capital into this market and other similar markets.

Dejpasand said that a significant increase in tax revenues is among the issues that should be addressed this year, and added: Businesses are in a situation where they may face problems if they are pressured too much.

Referring to the problems of the country's economy, he noted: This year, we must be careful not to leverage taxation to interfere with government revenues as well as the private sector's activities.

The Minister further stated that tax revenues in the first five months of this year increased by thirty-five percent, said the government is trying to identify and tax people who are trying to evade tax.

On the subject of tax evasion, Dejpasand also said that tax evasion is now reduced and has reached about 30-40 trillion tomans.