Iran's budget for new year can't compensate for flood damages - CBI

Iran Materials 8 April 2019 15:20 (UTC +04:00)
The governor of the central bank of Iran asked the bank's executives to help the production through the targeted granting of facilities.
Iran's budget for new year can't compensate for flood damages - CBI

Tehran, Iran, April 8


The Central Bank of Iran's governor Abdol Nasser Hemmati spoke to the directors of the country's banks and credit institutions, saying that despite the ups and downs the conspiracy of the enemies has been neutralized, Trend reports citing ILNA.

Iran`s enemies are focused on the monetary and currency market in order to achieve their goals, he said. “The enemy had designed a special program to disrupt the currency market and banking system of Iran, which, the program didn't reach.

He expressed hope tha the CBI, along with the government will try to prevent the turmoil and fluctuations in the foreign exchange market.

He evaluated overall performance of the banking system in Iran over the past Iranian year (ended on March 21), and said that the banking system is expected to manage the bank interests, overdrafts and control liquidity.

Referring to the volume of flood damage to infrastructure, housing and assets of the people and the agricultural and livestock sectors, he said that the new year`s budget will not be able to compensate for the damages.

“Along the use of bank facilities, use of resources from the National Development Fund will be necessary,” he added.