[94548] Iranian government officials at the market opening ceremony: Talk of economic recovery and regional policy

Iranian government officials at the market opening ceremony: Talk of economic recovery and regional policy

At a festive event marking the opening of the 1405 summer trading season, senior government officials in Tehran emphasized the resilience of the Iranian economy following a series of military conflicts. Minister of Economy, Seyed Ali Madani-Zadeh, reported that the stock exchange has recorded a growth of 38% since the end of the "40-Day War," this after a 15% decline recorded following the "12-Day War" that preceded it.

On the political level, Vice President Mohammad Reza Aref defined Iran as the "big brother" of the region's countries. In his speech, which was broadcast on the Student News Agency (SNN), Aref threatened that if neighboring countries allow the US to operate from their territory against Iran, these sites will become "legitimate targets" for Iranian security forces. Aref added that "Iranophobia" (fear of Iran) has been replaced by "Iranophilia" in the Western world.

In an attempt to deal with inflation and the public's fear of currency devaluation, Madani-Zadeh called on the public to invest in "foreign currency investment funds" instead of gold or direct foreign currency. According to him, this step will help inject capital into the manufacturing sector. The Minister of Economy emphasized that the government does not plan "inappropriate intervention" in the market, but aims to double the share of the capital market in the Iranian economy, which currently relies 90% on the banking system.

At the same time, the Chairman of the Securities and Exchange Organization announced that the government is working to issue shares of giant government companies, such as the National Oil Company and the Gas Company, on the stock exchange in the near future, while committing to complete the implementation of the "Saham-e Edalat" (Justice Shares) program during the summer.