BAKU, Azerbaijan, April 15
By Elnur Baghishov - Trend:
The loan for citizens related to the coronavirus will be repaid within 30 months in Iran, said the Head of Iran Central Bank Abdolnasser Hemmati, Trend reports citing IRIB.
According to Hemmati, 4 million low-income families will receive loans of 10-20 million rials (about $237-$476) at 12 percent. Four percent of the 12 percent loans will be repaid by citizens and the remaining eight percent by the state.
Hemmati added that a total of 250 trillion rials (about $5.95 billion) in loans was expected. The monthly loan repayment is 350,000 rials (about $8.3).
"The Iranian government is facing US sanctions against Iran, as well as a budget deficit. At the same time, the coronavirus epidemic has a negative impact," he said.
The director said that the citizens are not expected to register in any system. The Iranian Ministry of Cooperatives, Labour, and Social Welfare will send a short message to the citizens receiving subsidies. This loan will be repaid at the expense of citizens by April 25.
According to the official, a total of 90 million rials (about $2,140) will be given to entrepreneurs for a period of 3 months, 30 million rials (about $714) per worker.
Hemmati said that the government pays special attention to the activities of small and medium enterprises.
"The Central Bank of Iran does not forecast a 40 percent inflation for the current year (started from March 20, 2020). However, shortly before the coronavirus, inflation was forecast at 40 percent," he said.
Hemmati said that as for the idea that 750 trillion rials (about $17.8 billion) allocated for the fight against coronavirus will increase liquidity, the effect of liquidity is not the same as the effect of liquidity. Liquidity can be managed by other means. Efforts will be made to increase liquidity by no more than 23-24 percent," he said.
The Iranian government has allocated 1 quadrillion rials (about $ 23.8 billion) funds for the coronavirus. Some parts of it free financial assistance to low-income families and some parts of it will be given as loans to citizens and manufacturing enterprises.