Jan 16, 2020 12:25 Asia/Tehran [Updated: Feb 04, 2020 14:04 Asia/Tehran]

Tehran (IP) - The head of Iran's central bank Abdolnasser Hemmati said on Thursday that despite conspiracies and predictions of the enemies, the country has stable economic conditions.

Iran PressIran News: "Today, with the positive actions of the government and the central bank, the foreign exchange market has stabilized," Abdol Nasser Hemmati said at the unveiling ceremony of the Open Market Operation trading system.

Hemmati added: "Although we have witnessed the most severe sanctions since last year and some expected high inflation and wildly fluctuating rate for the dollar, fortunately, the country has stable economic conditions."

He went on to say: "The enemy's main intention was to hit the country's foreign exchange market and, given the liquidity and inflation expectations and shocks caused by the decline in oil revenues, the possibility of a recession was likely, but in the short term, despite severe sanctions, we were able to overcome these pressures."

Hemmati concluded: "In the first six months of the current year, the country's non-oil growth has been positive, indicating that we have been able to reverse the economic downturn." 207/211

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