Baku, Azerbaijan, Sept. 27
By Fatih Karimov – Trend:
Iranian government's debt (including state-run companies) to the banking system has reached 1343.1 trillion rials (each 31,429 rials making one USD) by July 21.
The figure doesn’t include debts of government and state-run companies to the Central Bank of Iran (CBI).
The figure was 1084.6 trillion rials last year, registering a 23.8 percent increase year on year, the CBI said.
The debt has increased by 10.2 percent in comparison with the end of the last fiscal year (March 20) which had the figure at 1218.3 trillion rials.
The government debt to the banking system witnessed a rise by 24.6 percent by July 21, while compared to the July 21, 2015 and stood at 1305.7 trillion rials.
Meanwhile the debts of Iranian state-run companies to the banking system stood at 37.4 trillion rials by July 21, 1.6 percent more year on year.
Iran's banking system has been struggling with bad loans in the past few years. Banks of Melli, Parsian, and Tejarat have the highest amount of bad loans in Iran.
The CBI report also indicates that the debts of Iranian banks and credit institutions to the central bank reached 909 trillion rials by July 21, 9.1 percent more year on year.