Iran’s bad loans increased by 10 times during Ahmadinejad presidency

Business Materials 23 December 2012 15:13 (UTC +04:00)

Azerbaijan, Baku, Dec. 23/ Trend G.Mehdi/

Tehran-e Emrooz daily has reported that $2.7 billion has been allocated by the Iranian government for the importation of luxury cars during the first half of the current Iranian calendar year, which began on March 20.

The newspaper has also reported that two prominent clergies, Ayatollah Naser Makarem Shirazi and Ayatollah Jafar Sobhani, met with a number of MPs, urging them to pay special attention to economic situation of people.

Arman daily has cited data released by the Central Bank of Iran which showed outstanding claims of the banking system from the administration has increased by 10 times compared to seven years ago, reaching around $50 billion.

Etemad daily has published a report on the rising jobless rate quoting data by the Statistics Center of Iran which showed the unemployment rate hit 12.4 percent in summer against 12.9 percent in spring. It also said that the administration had pledged to create 2.5 million jobs in the current (calendar) year.

Kayhan daily has quoted Ayatollah Jafar Sobhani as saying that "We should be vigilant about new political and economic unrests in the country."

Bahar daily has quoted State Inspectorate Organization Director Mostafa Pourmohammadi as saying that "We are now living in a situation which is prone to unrests and there is a possibility of unrest in every moment."