Capital market helps Iran to grow economy

At a meeting attended by the capital market activists, the Minister of Economic Affairs and Finance of Iran described the capital market situation well.

(SHADA: TEHRAN) -- Speaking at the meeting attended by the head of the National Tax Administration, the head of the Stock Exchange Organization, managers of the stock exchange and OTC, as well as the capital market activists, Farhad Dejpasand said: The current state of the capital market indicates that the forgotten task of this market is being returned.

We are in a financial war right now, and we are having problems with financing and high volume of liquidity, he said, adding: The best and most effective way to get through these situations is to go to the capital market, where both the financing required for the economy and the liquidity will be directed to the stock exchange.

To enter the capital market one must be able to take risks in doing business; and the missing link in this matter is the right awareness and training, he continued.

Large-scale firms need to come to the capital market for financing rather than banks, so we need to facilitate and develop affairs such that large firms can enter the capital market to finance working capital, he said, adding: This requires that we make the rules and regulations very simple and transparent and modify them, if necessary.

Stating that all over the world, government spending is financed through taxation, he said: The Minister of Economy should seek to increase both tax revenues and the dynamics and growth of the economy.

He referred to the process of tax deductions and added: According to the Constitution, the taxation or exemption of any tax is approved by parliament.