Baku, Azerbaijan, Dec. 14
By Fatih Karimov - Trend:
The Iranian administration's debt to the national banking system has surpassed 850 trillion rials (about $25 billion based on free market rate of 34,000 rials), a 313 percent rise in 12 years.
Meanwhile, the administration's debt to the national banking system rose 33 percent over the 12-month period from June 2013 to June 2014, Iran's Afkarnews website reported on Dec. 14.
Iran's economy minister Ali Tayyebnia said on Aug. 19 that the administration will set up a special legal complex to deal with bank loan defaulters.
Tayyebnia said on June 18 that the real value of the Iranian banking system's bad loans is $47 billion.