{"id":219377,"date":"2020-05-31T17:09:08","date_gmt":"2020-05-31T16:09:08","guid":{"rendered":"https:\/\/www.ncr-iran.org\/en\/?p=219377"},"modified":"2023-01-24T05:33:56","modified_gmt":"2023-01-24T04:33:56","slug":"irans-stock-market-bubble","status":"publish","type":"post","link":"https:\/\/www.ncr-iran.org\/en\/news\/economy\/irans-stock-market-bubble\/","title":{"rendered":"Iran\u2019s Stock Market Bubble"},"content":{"rendered":"
\"Iran\u2019s
Iran\u2019s Stock Market Bubble<\/figcaption><\/figure>\n

All stock markets\u00a0<\/span>across the globe<\/span>\u00a0have\u00a0<\/span>plunged<\/span>\u00a0<\/span>due to\u00a0<\/span>the novel\u00a0<\/span>coronavirus<\/span>,<\/span>\u00a0from\u00a0<\/span>the\u00a0<\/span>Dow Jones to S&P 500,\u00a0<\/span>the\u00a0<\/span>London Stock Exchange,\u00a0<\/span>the\u00a0<\/span>Far East, and Arab\u00a0<\/span>countries;<\/span> almost every country.<\/span><\/p>\n

But there is one\u00a0<\/span>exception<\/span>;<\/span>\u00a0<\/span>the growing\u00a0<\/span>trend in<\/span>\u00a0the Iranian regime’s stock market. Since March, with the\u00a0<\/span>COVID-19<\/a>\u00a0<\/span>peak, the\u00a0<\/span>regime\u2019s\u00a0<\/span>stock market has\u00a0<\/span>witnessed\u00a0<\/span>positive<\/span>\u00a0growth<\/span>.<\/span>\u00a0<\/span><\/p>\n

The Iranian government has launched a lot of hype about the stock market, saying the situation is better than anywhere else in the world. Iranian President Hassan Rouhani also rudely stated that the rest of the world seems to be unable to manage the stock market.<\/span>\u00a0<\/span><\/p>\n

“Put a cotton ball in your ear. Do not listen to\u00a0<\/span>their remarks<\/span>. Our stock market is good; they are all angry and say that the stock market is in turmoil all over the world. Why is the Iranian stock market\u00a0<\/span>growing<\/span>? Iran’s stock market is good because of the efforts of all companies and economic activists. Fortunately, by offering large corporate stocks, we hope that Shasta (The Social Security Investment Company) will announce its shares in the stock market soon, and the banks will also announce their shares in the stock market soon<\/span>.<\/span>\u00a0<\/span>O<\/span>ur stock market is booming<\/span>,<\/span>“<\/span>\u00a0he claimed.<\/span>\u00a0<\/span><\/p>\n

\"Weekly-Signe-up-logo\"<\/a><\/p>\n

The peak sales of stocks in recent months were from early March onwards<\/span>. T<\/span>he sale of\u00a0<\/span>70 trillion rials<\/span>1<\/span>\u00a0of shares of social security investment companies<\/span>,<\/span>\u00a0or Shasta<\/span>,<\/span>\u00a0to\u00a0<\/span>two<\/span>\u00a0<\/span>million people in the form of\u00a0<\/span>eight\u00a0<\/span>billion shares, which reached 3<\/span>,<\/span>600 shares for each stock exchange code, or each buyer. These shares are\u00a0<\/span>ten percent<\/span>\u00a0of Shasta’s capital.<\/span>\u00a0<\/span><\/p>\n

Shasta is a large holding company with middle holdings that owns 187 large companies and 44,000 workforces.<\/span>\u00a0<\/span><\/p>\n

Shasta belongs to retired and\u00a0<\/span>people\u00a0<\/span>insured by the Social Security\u00a0<\/span>O<\/span>rganization<\/span>.\u00a0<\/span>All the while<\/span>, board members and CEOs are appointed by the Minister of Cooperatives, Labor and Social Affairs, or in other words, by the government.<\/span>\u00a0<\/span><\/p>\n

IRISL Group,\u00a0<\/span>RighTel<\/span>\u00a0Communications, Oil Industry Investment Company,\u00a0<\/span>Tamin<\/span>\u00a0Petroleum & Petrochemical Investment Co.\u00a0<\/span>Tamin<\/span>\u00a0Pharmaceutical investment company (PJS), Taemin Cement, Sadr Taemin investment company, Taemin General Industrial Holding Co. Energy Holding of Social Security Investment Company, and\u00a0<\/span>Sabatamin<\/span>\u00a0Investment are the nine primary holdings of Shasta.<\/span>\u00a0<\/span><\/p>\n

Rouhani’s government owes Shasta more than 2<\/span>.5<\/span>\u00a0<\/span>quadr<\/span>illion\u00a0<\/span>rial<\/span>s. Shasta belongs to the millions of workers and wage earners who pay premiums and has nothing to do with the government<\/span>. However,<\/span>\u00a0the Iranian regime has always encroached this fund.<\/span>\u00a0<\/span><\/p>\n

“We want to take Shasta from the darkroom to the Glass Hall<\/span>,<\/span>“<\/span>\u00a0said\u00a0<\/span>Mohammad\u00a0<\/span>Shariatmadari<\/span>, the regime\u2019s<\/span>\u00a0Minister of Cooperatives, Labor and Social Welfare<\/span>.<\/span>\u00a0<\/span>Yet\u00a0<\/span>he\u00a0<\/span>fails to<\/span>\u00a0explain how much damage has been\u00a0<\/span>inflicted on<\/span>\u00a0people’s property in this darkness, and how much of<\/span>\u00a0the<\/span>\u00a0people’s capital has been looted.<\/span>\u00a0<\/span><\/p>\n

But why\u00a0<\/span>has\u00a0<\/span>the Iranian regime launched this amount of propaganda regarding to the stock market?<\/span>\u00a0<\/span><\/p>\n

Estimations indicate a 40<\/span>0 trillion rial<\/span>\u00a0reduction in government revenue from taxes. If we added this amount to the government’s budget deficit last year, we\u00a0<\/span>will<\/span>\u00a0reach nearly 800\u00a0<\/span>trillion rials<\/span>. The only way for the\u00a0<\/span>government to compensate for this budget deficit is to raise capital from the stock market. (<\/span>Resalat<\/span>\u00a0newspaper<\/span>\u2014<\/span>April 28th, 2020)<\/span>\u00a0<\/span><\/p>\n

As a result, now that the Iranian regime has a budget deficit, it wants to defraud the people of their small assets through propaganda and\u00a0<\/span>brouhaha<\/span>, and hand over the people’s assets to the mafia gangs of power and wealth.<\/span>\u00a0<\/span><\/p>\n

\u201c<\/span>The shares of these seven companies are dangerous. Seven petrochemical projects that have not been built at all and are traded on the stock market and have remarkable growth.\u00a0<\/span>Mamasani<\/span>\u00a0Petrochemical,\u00a0<\/span>Darab<\/span>,\u00a0<\/span>Fasa<\/span>,\u00a0<\/span>Jahrom<\/span>,\u00a0<\/span>Dehdasht<\/span>,\u00a0<\/span>Kazerun<\/span>, and Petrochemical, which is going to be built in Golestan<\/span>,\u201d said\u00a0<\/span>Shokouhi<\/span>, a scientific council member at the University of Petroleum Industry<\/span>.<\/span>\u00a0<\/span><\/p>\n

\"Dehdasht-Petrochemical\"\u00a0<\/span><\/p>\n

One of these companies is\u00a0<\/span>Dehdasht<\/span>\u00a0Petrochemical, which has\u00a0<\/span>witnessed<\/span>\u00a0<\/span>four percent<\/span>\u00a0<\/span>growth in just\u00a0<\/span>12 years after its<\/span>\u00a0launch<\/span>. It’s just empty land with some brick walls. The company is on the stock exchange and its shares have risen from 1<\/span>,0<\/span>00 to 7<\/span>,<\/span>23<\/span>0 rials<\/span>. That is\u00a0<\/span>a\u00a0<\/span>seven<\/span>-fold increase<\/span>. What happened when the stocks of this barren land grew so much?<\/span>\u00a0<\/span><\/p>\n

Golestan Petrochemical<\/span><\/b>\u00a0<\/span><\/p>\n

This petrochemical\u00a0<\/span>firm\u00a0<\/span>only exists on paper.\u00a0<\/span>I<\/span>ts shares<\/span>, however,<\/span>\u00a0are trading at 2<\/span>,<\/span>8<\/span>0<\/span>0<\/span>\u00a0rials<\/span>.\u00a0<\/span>All the while<\/span>, 28<\/span>0<\/span>\u00a0billion\u00a0<\/span>rials\u00a0<\/span>of Golestan residents’ money has\u00a0<\/span>so far\u00a0<\/span>been invested in this paper project.<\/span>\u00a0<\/span><\/p>\n

Darab<\/span><\/b>\u00a0Petrochemical<\/span><\/b>\u00a0<\/span><\/p>\n

\"Tehran-Market-1\"\u00a0<\/span><\/p>\n

Darab<\/span>\u00a0Petrochemical has a similar situation<\/span>. The company witnessed no significant growth a<\/span>fter ten years\u00a0<\/span>despite investing\u00a0<\/span>10<\/span>0<\/span>\u00a0billion\u00a0<\/span>rials<\/span>.\u00a0<\/span>W<\/span>hy did they decide to\u00a0<\/span>launch<\/span>\u00a0<\/span>this project in a deserted area?\u00a0<\/span>T<\/span>here are rumors<\/span>\u00a0about\u00a0<\/span>transfer<\/span>ring<\/span>\u00a0this project to\u00a0<\/span>Asaluyeh<\/span>\u00a0in southern Iran<\/span>. At present, each share of “<\/span>Darab<\/span>” in the capital market is worth 2<\/span>,<\/span>36<\/span>0 rials<\/span>.<\/span>\u00a0<\/span><\/p>\n

\"Tehran-Market-2\"\u00a0<\/span><\/p>\n

Shares of some bankrupt companies have quadrupled.<\/span>\u00a0<\/span><\/p>\n

In addition to Shasta, Rouhani’s government plans to list some state-owned companies, including\u00a0<\/span>I<\/span>MIDRO,<\/span>\u00a0<\/span>or\u00a0<\/span>the\u00a0<\/span>Iranian Mines & Mining Industries Development & Renovation or IMIDRO,\u00a0<\/span>Mobarakeh<\/span>\u00a0Steel and\u00a0<\/span>Sarcheshmeh<\/span>\u00a0Copper.<\/span>\u00a0<\/span><\/p>\n

Mehdi\u00a0<\/span>Karbasian<\/span>, former Chairman of the Executive Board of IMIDRO,<\/span>\u00a0<\/span>has made it clear that compensating for the budget deficit is the reason companies are taking to the stock market, but on reasons such as “transparency” or “privatization” to justify going to the stock market.<\/span>\u00a0<\/span><\/p>\n

Let’s<\/span><\/b>\u00a0take a look at the economic situation of the Iranian regime:<\/span><\/b>\u00a0<\/span><\/p>\n

According to the<\/span> International Monetary Fund (IMF), Iran’s economic growth\u00a0<\/span>was<\/span>\u00a0<\/span>–<\/span>9.5 percent for 2019.<\/span>\u00a0<\/span>According to the IMF, as a result of the coronavirus pande<\/span>mic \u201c<\/span>the global economy is projected to contract sharply by \u20133% in 2020<\/span>,\u201d and this will also affect Iran\u2019s economy.\u00a0<\/span>\u00a0<\/span><\/p>\n

Iran’s economic growth in 2018 was\u00a0<\/span>–<\/span>4.8 percent, the report said.<\/span>\u00a0<\/span><\/p>\n

The IMF has forecast inflation in Iran at 37.5 percent for 2019, but the World Bank’s assessment is more pessimistic, predicting an inflation rate of 38.3 percent in Iran.<\/span>\u00a0<\/span><\/p>\n

The\u00a0<\/span>IMF<\/span>\u00a0says inflation in Iran is the highest in the world after Venezuela and Sudan.<\/span>\u00a0<\/span><\/p>\n

The IMF also estimated unemployment in Iran at 14.5 percent for 2018<\/span>,\u00a0<\/span>16.8 percent for 2019, and 17.4 percent for 2020.<\/span>\u00a0<\/span><\/p>\n

Then h<\/span>ow can the stock market grow with\u00a0<\/span>such a failing economy?<\/span>\u00a0<\/span><\/p>\n

“The stock market may\u00a0<\/span>nosedive\u00a0<\/span>in mid-June<\/span>,<\/span>“<\/span>\u00a0said\u00a0<\/span>Mojtaba<\/span>\u00a0<\/span>Tavangar<\/span>, a\u00a0<\/span>newly selected\u00a0<\/span>member of the Iranian regime\u2019s Majlis (parliament).\u00a0<\/span>He reminded the story of financial and credit institutions and what happened to the people.<\/span>\u00a0<\/span><\/p>\n

\u201c<\/span>The ascent of 2.5 times the value of the Tehran Stock Exchange compared to world stock exchanges<\/span>,\u201d Iranian economic expert\u00a0<\/span>Ehsan\u00a0<\/span>Soltani<\/span>\u00a0wrote on Twitter on April 30.\u00a0<\/span>\u00a0<\/span><\/p>\n

Indeed, despite the sanctions, macroeconomic instability, negative economic growth, negative capital formation rates, stagflation, etc., what miracle has happened in Iran’s economy that the Tehran Stock Exchange has risen\u00a0<\/span>by 250 percent<\/span>\u00a0compared to the rest of the world?<\/span>\u00a0<\/span><\/p>\n

“From early 2016 the stock market has grown by 240%, meaning 240% added devaluation of the rial (Iran’s currency), while 45% of the actual growth of early to the end of 2019 can be explained by the investment and increased productivity of listed companies,” said economist\u00a0<\/span>Pouya<\/span>\u00a0<\/span>Nazeran<\/span>. “It is difficult to describe 240 percent actual growth considering the economic circumstances of the past few years, the nosediving oil prices and the devaluation of petrochemical products around the world.”<\/span>\u00a0<\/span><\/p>\n

According to experts, the Iranian regime has created a bubble with propaganda and fuss due to its terrible budget deficit, and this imaginary growth is a bubble and inflation to\u00a0<\/span>obtain as much<\/span>\u00a0<\/span>small capital\u00a0<\/span>from<\/span>\u00a0the people<\/span>\u00a0as possible<\/span>.<\/span>\u00a0<\/span><\/p>\n

It has pursued this policy in recent years and squandered\u00a0<\/span>the\u00a0<\/span>people’s money. People are still looking for their property, which has been stolen by the regime’s financial looters. We will not forget how the regime’s press and television advertised these institutions with profits that\u00a0<\/span>encouraged<\/span>\u00a0<\/span>everyone to\u00a0<\/span>take advantage of and<\/span>\u00a0preserve their capital.<\/span>\u00a0<\/span><\/p>\n

Another example was the gold coin, currency, and housing market<\/span>s<\/span>. For\u00a0<\/span>example<\/span>, in 2018, by creating excitement in the market, the price of the\u00a0<\/span>U.S. d<\/span>ollar\u00a0<\/span>was raised to 20<\/span>0<\/span>,000\u00a0<\/span>rials<\/span>\u00a0<\/span>and\u00a0<\/span>the gold\u00a0<\/span>coin\u00a0<\/span>price\u00a0<\/span>was raised to 6<\/span>0<\/span>\u00a0million<\/span>\u00a0rials<\/span>.\u00a0<\/span>After s<\/span>lowly declining the price of the <\/span>d<\/span>ollar<\/span>,\u00a0<\/span>the regime<\/span>\u00a0executed two\u00a0<\/span>low-level<\/span>\u00a0agents active in the coin market to put the matter to rest.<\/span>\u00a0<\/span><\/p>\n

On the other hand, by auctioning off state-owned companies and selling them at a bargain price,\u00a0<\/span>Rouhani\u2019s government is<\/span>\u00a0transferring public ownership to mafia gangs of power and wealth. Like what\u00a0<\/span>happened with<\/span>\u00a0<\/span>the\u00a0<\/span>Haft\u00a0<\/span>Tappeh<\/span>\u00a0Sugar Company<\/span><\/a>,\u00a0<\/span>selling<\/span>\u00a0a $230 million company to a young\u00a0<\/span>Revolutionary Guards (<\/span>IRGC<\/span><\/a>)<\/span>\u00a0member for\u00a0<\/span>a mere\u00a0<\/span>$2 million in installments.<\/span>\u00a0<\/span><\/p>\n

Economic experts in the Iranian regime see the\u00a0<\/span>stock market\u00a0<\/span>situation as a bubble, as it is not\u00a0<\/span>due to<\/span>\u00a0<\/span>a\u00a0<\/span>n<\/span>atural<\/span>\u00a0increase in production but because of offering the ownership of public property<\/span>. This<\/span>\u00a0bubble will\u00a0<\/span>burst <\/span>shortly<\/span>, revealing its anti-economic nature.<\/span>\u00a0<\/span><\/p>\n

\"Weekly-Signe-up-logo-300x100\"<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

All stock markets across the globe have plunged due to the novel coronavirus, from the Dow Jones to S&P 500, the London Stock Exchange, the Far East, and Arab countries; almost every country. But there is one exception; the growing trend in the Iranian regime’s stock market. Since […]<\/p>\n","protected":false},"author":17,"featured_media":219378,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10],"tags":[129,210,229],"class_list":{"0":"post-219377","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-iran","9":"tag-iran-stock-market","10":"tag-irans-economy"},"yoast_head":"\nIran\u2019s Stock Market Bubble - NCRI<\/title>\n<meta name=\"description\" content=\"All stock markets\u00a0across the globe\u00a0have\u00a0plunged\u00a0due to\u00a0the novel\u00a0coronavirus,\u00a0from\u00a0the\u00a0Dow Jones to S&P 500,\u00a0the\u00a0London Stock Exchange,\u00a0the\u00a0Far East,\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ncr-iran.org\/en\/news\/economy\/irans-stock-market-bubble\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Iran\u2019s Stock Market Bubble - 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