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Iran’s central bank must be independent – minister

3 September 2013 11:50 (UTC+04:00)
Iran’s central bank must be independent – minister

Iran's Economy and Finance Ali Tayyebnia believes that the Central Bank of Iran should be completely independent from the government.

"The independence could not be achieved unless the budget plan provides a balance between the government's revenues and spending," the ISNA News Agency quoted Tayyebnia as saying.

He said that in order to take out the oil revenues from the budget plan, Iran can replace it with tax revenues in the coming years' budget plan.

"The government should also cut some spending," Tayyebnia said, adding the first priority should be constructional projects.

He further criticized the previous administration's orders.

"Past experiences show that increasing the liquidity will not snap the country's economy out of recession," Tayyebnia said.

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