Rewritten Title: Government Announces Economic Stabilization Measures, Highlights Growth in Home Appliance Sector
Article:
In a comprehensive televised address, Fatemeh Mahagerani, the Government Spokesperson, detailed a series of economic measures aimed at stabilizing the national economy, resolving long-standing public concerns, and fostering domestic industrial growth. The announcements covered banking, manufacturing, and social welfare, projecting a narrative of proactive government intervention.
Banking Sector Reforms and Inflation Control
A key point of the announcement was the resolution of the long-pending case of Ayandeh Bank. Mahagerani assured depositors that their accounts would be seamlessly transferred to the National Bank, eliminating previous anxieties. She directly linked banking sector imbalances to inflation, stating, “One of the reasons for the creation of inflation is the imbalance of banks; when banks have excess overdrafts, we witness the creation of inflation.” To further support the real economy, the Ministry of Economy has launched a new “Financing System for Productive Enterprises,” which allows production contracts themselves to be used as collateral, facilitating working capital and making the banking system more efficient.
Welfare Payments and Support for Retirees
The government also reported significant progress on social welfare fronts. Payments have been processed for approximately 30,000 retirees who had requested 50 million Tomans loans. Furthermore, over the past two weeks, ten installments of end-of-service bonuses have been paid to retired education personnel.
Resilience and Growth in Home Appliance Manufacturing
A notable highlight of the briefing was the performance of the home appliance industry. Mahagerani announced a 10% growth in the sector over the past six months, coupled with an improvement in product quality. She emphasized the increased “production depth,” noting that most equipment needed for manufacturing is now sourced domestically.
In a striking example of economic transformation, the spokesperson revealed, “Some individuals who, until recently, were illegal importers of home appliances, now have production factories in border cities and have created employment for many young people in those regions.” This shift from importation to domestic production was presented as a success story for government policy.
Export Gains and Energy Challenges
Despite challenges in the energy sector, including imbalances in electricity and gas that led to power cuts for industrial units, the home appliance industry managed to achieve a 4.5% growth in exports. The government expressed hope that the situation regarding electricity supply for production units would continue to improve.
Environmental and Regional Development Initiatives
On environmental issues, Mahagerani stated that the government is working to minimize gas flaring, which causes pollution and energy waste. So far, 11 million cubic meters of flare gas have been captured and returned to the production chain.
The spokesperson also highlighted development in the less-attended South Khorasan province, where seven mined products have been registered with the UN’s World Intellectual Property Organization (WIPO). This registration is expected to help miners leverage the export value of these products and attract strategic investment to the region.
Market Regulation and Livelihoods
Concluding the address, Mahagerani referenced the President’s emphasis on market management and organization. She assured that the President is attentive to public concerns about pricing and that the Market Regulation Headquarters is actively holding sessions to control both price hikes and profiteering, alongside policies designed to improve public livelihoods.