Liquidity in Iran increases by over 27%
Baku, Azerbaijan, March 1
By Fatih Karimov - Trend:
Iran's liquidity increased by 27.2 percent during the 10-month period to Jan. 21, Akbar Komijani, deputy governor of Iran's central bank said, Tasnim news agency reported March 1.
The liquidity by the mentioned time stood at 9.5 quadrillion rials (30,200 rials per US dollar).
Iranian banks have paid 2.984 quadrillion rials in loans to various economic sectors in the first ten month of the current Iranian fiscal year (March 21, 2015-Jan. 21), Komijani said, adding the working capital shared 62.6 percent of the figure.
The monetary base volume also stood at 1.480 quadrillion rials by Jan. 21, registering an increase by 11.9 percent in 10 months.
Following the removal of international sanctions, the Iranian administration planning to hit an eight percent economic growth in the post-sanctions era, announced that the country is seeking to annually lure up to $50 billion worth of foreign investment.
International Monetary Fund (IMF) released a report last December, saying that Iran's GDP growth is expected to be between 0.5 to -0.5 percent in current year.
While 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.