Baku, Azerbaijan, Dec. 27
By Fatih Karimov- Trend:
Iran's liquidity increased by 16 percent during the eight-month period to Nov. 22, Valiollah Seif, head of Iran's central bank said.
The liquidity by the mentioned time stood at 9.1 quadrillion rials (each 30,119 rials making one USD), Seif said, Iran's Fars news agency reported Dec. 27.
The liquidity witnessed an increase by 56 percent compared to March 2014, the Iranian official added.
Iranian banks have paid 2.2 quadrillion rials in loans to various economic sectors in the first eight month of the current Iranian fiscal year (March 21-Nov.22), Seif said, adding industry sector shared 82.6 percent of the figure.
The International Monetary Fund (IMF) released a report on Dec.21, saying that Iran's GDP growth is expected to be between 0.5 to -0.5 percent in current year.
Real GDP growth is projected to decline from three percent in 2014-2015 to 0.5 to -0.5 percent in 2015-2016, according to the IMF.
The IMF forecast that higher oil production, lower costs for trade and financial transactions, and restored access to foreign assets, are expected to lift real GDP to about 4-5.5 percent next year.