Iranian gov’t supports stock market: Minister

Explaining the details of the government's plans approved on Wednesday to shore up the stock market, the minister said the approvals indicate the government’s support for industry and stability of economic activities as well as a positive outlook for the economy in the coming months.

To implement the policies previously suggested by the government's economic headquarters in support of the stock markets, the cabinet approved some changes in the budget bill for the next Iranian year, said Khandouzi, adding the revisions will be submitted to the Parliament.

He said first vice president Mohammad Mokhber, in an instruction to the Central Bank of Iran (CBI), the Plan and Budget Organization (PBO) and other related bodies, has announced the new plans on supporting the stock market.

The minister acknowledged that the government's instruction included a cap on fees of feedstock for petrochemical industries and fuel prices.