Economy, Domestic Economy
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Lawmakers Debate Ways to End Recession

Lawmakers Debate Ways to End RecessionLawmakers Debate Ways to End Recession

The parliament has started to vet the plan of action put forward by the government aimed at bringing the economy out of recession and stimulating economic recovery, Econews reported.

Ja’far Qaderi, a lawmaker from Shiraz, said that, currently, there are debates over some parts of the plan, including the government’s decision to use money it has collected from the difference between official and market rates of foreign currencies to repay its debts to businesses.

The plan has been formulated for an 18-month period ending March 2016 and mainly focuses on issues including increasing the banks’ capital, issuing exchange securities, tax exemption for investors and entrepreneurs as well as for companies and projects, and attracting investors for implementing semi-finished projects across the country.

The parliamentarians say they are resolved to finish studying the plan of action before the government submits next year’s budget, in order to have enough time for discussing and ratifying the budget bill.

Qaderi also said the parliament plans to examine a proposal on establishing a special fund to protect the country’s manufacturing sector.

Since President Rouhani took office in August 2013, he and his economic advisers have made a concerted effort to curb inflation and reverse the trend of negative growth.

President Rouhani said in late August the economy would attain positive growth in the current Iranian calendar year (to end March 20, 2015).

Financialtribune.com