As reported by the TCCIMA portal, barriers to the activity of startups, the benefits of joining the Shanghai Cooperation Organization, review of macroeconomic indicators of the country and monitoring the performance of TCCIMA, and the issues of the private sector enterprises with the Iran National Standard Organization (INSO) were among the major issues explored at the said meeting.

The meeting was attended by the TCCIMA Head Masoud Khansari and the INSO Head Gholamreza Shariati, as well as the members of the chamber’s board of representatives.

Speaking in the meeting Khansari mentioned a report published by the United Nations Industrial Development Organization (UNIDO) based on which Iran’s industrial sectors have grown by 8.4 percent and 6.1 percent in the first and second quarters of 2021, respectively.

He also referred to the growth of the country’s Gross Domestic Products (GDP) in the first quarter of the current Iranian calendar year (March 21-June 21) and said: “Reports recently published by the Central Bank of Iran (CBI) and the Statistics Center of Iran (SCI) indicate that economic growth, including oil, in the first quarter of this year was 6.2 percent, according to the CBI, or 7.6 percent, according to the SCI, and if this trend continues, we hope economic conditions will get better.”

Khansari went on to discuss the statistics of liquidity growth and monetary base and explained: “Liquidity growth is still on the rise; the liquidity figure in [the Iranian calendar month of] Mordad (July 22-August 22) reached 39.21 quadrillion rials (about $933.5 billion), which is a very high figure and has experienced huge growth. “

“The main reason for this increase in liquidity is the budget deficit. According to the latest reports, the country’s revenues and expenditures do not match at all, and perhaps less than 50 percent of the country’s expected revenues have been realized in the last five months, and the government has to use the central bank’s resources to cover its expenses, which increases the monetary base,” he added.

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Speaking at the meeting of the board of representatives of the TCCIMA, Masoud Khansari said that in the Iranian calendar month of Ordibehesht last year, the inflation rate reached 41 percent and the social gap increased in a way that the number of people who are living under poverty line increased from 15 percent to 30 percent.

He added that there is insignificant investment in the country and fewer economic enterprises start working and the growth of investment comparing to the depreciation has become negative.

Khansari went on to say that today the most important issue is presidential election and the most important issue ahead of the next government is the economic issues but unfortunately during the election campaign debates, the candidates mostly express their dreams by giving dreamy promises.

He noted that this year’s budget has increased 140 percent comparing to the past year, reiterating that the government is expected to face 81 percent of budget deficit. He noted that the budget deficit will lead to the growth in the liquidity and monetary base.

Khansari went on to say that the chamber has conducted a research wherein the challenges ahead of Iran’s economy have been identified and the report has been delivered to the presidential candidates and it will continue its cooperation with the next government. He expressed hope that the next government would have a coordinated economic team for good planning to resolve the problems.

He also pointed to the IMF’s recent report and forecast regarding Iran’s economic growth and said Iran’s economic growth will be over 2 percent in 2021, adding that Iran has slipped 28 places in the IMF’s resilience indices rankings from 100th to 128th while Turkey ranks 60th.

On job creation in the past year, he said that one million people lost their jobs or left their jobs last year mostly because of the pandemic. He noted that in terms of devaluation of the national currency in the last year’s rankings in the world, Iran ranked first and it had the worst devaluation of its currency.

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Speaking in the meeting of board of representatives of the TCCIMA, Khansari said that according to the latest reports, Iranians bought 7,189 properties in Turkey in 2020 and some 1,600 more in the first quarter of 202.

He said the country should work on this woe why the capitals are flying from the country for buying houses and properties in other countries.

He added that Iranians rank first among foreign buyers of real estate in Turkey and Russians and Iraqis are trailing Iranians, respectively. He noted some Iranians have also purchased houses and properties in countries like Tajikistan and Georgia, reiterating that this is an ill which threatens the economy.

Khansari noted the ratio of investment to the amortization was negative in 2019 and it was one of the main reasons for the flight of capitals from the country.

He said the only remedy for the national economy is production and production needs real support and removal of hurdles, expressing hope that the recent actions of Majlis and the government would not be a show-off and election campaign slogan.

Khansari went on to say that government’s meddling in economy is the most important hurdle in way of production and as long as these interferences and engagements are not halted, there will be no growth in production.

He also criticized the government for launching several headquarters for the control of the prices, saying that while Iran is among the world top ten chicken producers, the government has set up a headquarter for organizing the chicken market in the country, noting that while production of chicken is in the control of the private sector, its pricing and import of raw materials are in the control of the government.

Khansari went on to say that sudden orders and regulations are hurdles in way of the production and if the country wants to materialize the slogan of the year, there needs a strong determination.

He noted that with protecting the production through removing hurdles, the country should safeguard the domestic capitals and prevent the flight of capitals.

He also noted that the private sector companied have signed agreements for import of 6m doses of COVID-19 vaccines for vaccinating the workers.

He added that some experienced companies have taken action to import the vaccines despite vaccines have been mostly pre-sold and the market is almost empty of vaccine.

Khansari went on to say that the goal behind this move is to help the workers especially in the production field and expressed hope the owners of the businesses would accept the cost of the vaccines and vaccinating their staff.

He said the chamber and some related bodies have forecast 39 percent inflation rate for the current year and in case the government faces budget deficit, the figure may soar.

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