Iranian government debt to banking system increases by 18%
Baku, Azerbaijan, March 13
By Fatih Karimov - Trend:
Iranian government's debt (including state-run companies) to the banking system has reached 1146 trillion rials (each 30,221 rials making one USD) by Jan. 20.
The figure doesn't include debts of government and state-run companies to Central Bank of Iran(CBI).
The figure was 967 trillion rials at the same time last year, registering an 18.5 percent increase year on year, the CBI said in its latest report released March 13.
The government debt to the CBI witnessed a rise by 10.2 percent while compared to the end of last fiscal year (March 21, 2015) which was 1040 trillion rials.
The debts of Iranian state-run companies to the banking system stood at 29.3 trillion rials by Jan. 20, 19.6 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 Iranian banks' debts to the central bank reached 836.9 trillion rials by Jan. 20, 0.9 percent more year on year.
The Iranian banks' debt to the CBI registered a fall by 2.5 percent while compared to the end of last fiscal year (March 21, 2015) which was 1040 trillion rials.