Central Bank Governor: Iran’s external debt decreases by $10 billion
Azerbaijan, Baku, May.25/ Trend F.Karimov/
Iran's external debt decreased by $10 billion in the past Iranian calendar year, which ended on March 20, IRNA quoted Iran's Central Bank Governor Mahmoud Bahmani as saying.
The external debt stood at $7.2 billion compared to $17.3 billion in the year which ended in March 2012, he added.
He put the liquidity growth rate at 30.8 percent in the past year and said that liquidity decreased by 1.9 percent in the first Iranian calendar month compared to the last month of the past year.
In January, Bahmani said liquidity in Iran has reached 4,240 trillion rials (over $346 billion).
The Central Bank previously reported that liquidity grew over five fold seven years ago.
Bahmani said in May that the liquidity growth rate fell to 19.4 percent in the year, which ended on March 19, 2012, compared to 25.2 percent in preceding year.
Head of Parliamentary Economic Committee Gholamreza Mesbahi Moqaddam said the subsidy reform plan put into place by the government has created $13 billion more in liquidity than was anticipated.
But, President Mahmoud Ahmadinejad has rejected such claims about the effect of implementing the subsidy reform plan in increasing liquidity.
The subsidy reform plan pays $37 to Iranians, eliminating subsidies for fuels and some commodities.