Iranian cabinet allocates $11 billion to settle debts of four ministries

Iran Materials 27 March 2012 14:08 (UTC +04:00)

Azerbaijan, Baku, Mar. 27/ Trend F.Milad/

The Iranian administration has approved the allocation of 135 trillion rilas (some $11 billion) to settle debts of four ministries to their contractors, Mehr news agency reported.

The sum will be paid to oil, energy, judiciary and interior ministries, the report added.

The Iranian economic affairs ministry has transferred stocks to private banks to settle about 80 trillion rials (some $6.5 billion) of its debt to the banks, the vice president for planning affairs said.

Rahim Mombaini told Mehr news agency that according to the previous calendar year's budget, the administration should completely settle its outstanding dues to the private banks by the end of the year (March 19).