Economy, Domestic Economy

Rouhani Orders Review of Economic Policies

Rouhani Orders Review of Economic PoliciesRouhani Orders Review of Economic Policies

Referring to the letter written by four ministers calling on President Hassan Rouhani to take prompt action to address the prevailing recession in the capital market, Minister of Economic Affairs and Finance Ali Tayyebnia says the president has issued relevant orders to address the issue.

According to Tayyebnia, the government’s economic team has already come up with a special package to put the capital market house in order and review the economic policies with an eye on growth. The new package seeks to curb inflation and fight the ongoing recession, Mehr News Agency quoted the minister as saying.

“Based on budgetary forecasts of the companies listed in the stock market and the sobering realities of the market’s functioning  industries, there are fears that the current recession would degenerate into a crisis, which is a recipe for nations’ distrust in the government,” read the letter which was signed by ministers of economy, industries, labor and defense.

Tayyebnia undermined the media hype on the gravity of the letter and said such letters exchanged between ministers and the president are not uncommon.