Liquidity exceeds $305 billion in Iran
Azerbaijan, Baku, Aug.15/ Trend F.Milad/
The Central Bank of Iran has announced that liquidity amounted to 3.74 trillion rials (some $305 billion) by the end of the third calendar month of Khordad (June 20), the ISNA News Agency reported on Wednesday.
The figure was 3.52 trillion rials (some $287 billion) in the same date last year.
Central Bank Governor Mahmoud Bahmani said in May that the liquidity growth rate fell to 19.4 percent in the past year, which ended on March 19, 2012, compared to 25.2 percent in its preceding year.
Parliamentary Economic Committee head Gholamreza Mesbahi Moqaddam said \the subsidy reform plan put into place by the government has created $13 billion more in liquidity than was anticipated.
The subsidy reform plan pays out $37 to Iranians while eliminating subsidies for fuels and some commodities.
When the plan started in December 2010, it was expected to cause about $32 billion in liquidity, Moqaddam said.
However, greater demand for the cash subsidies and the government's money borrowed from the central bank to pay for the subsidies led to $45 billion in liquidity.