Iran’s liquidity increases by 30%

Business Materials 24 May 2016 20:58

Baku, Azerbaijan, May 24 By Fatih Karimov - Trend:

Liquidity in Iran exceeded 10.17 quadrillion rials (about $334 billion based on official rate of 30,420 rials per each USD) by March 20, Valiollah Seif, governor of Central Bank of Iran (CBI), said. The figure indicates a rise by 30 percent compared to the same period last year, Seif said, IRNA news agency reported May 24.

Iran's liquidity witnessed a rise by 22.3 percent in the fiscal year to March 21, 2015, he added. The monetary base volume also registered a rise by 17.1 percent in the fiscal year to March 2016, Seif said. 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.

During a recent visit to Tehran, David Lipton, the first deputy managing director of the International Monetary Fund (IMF), called for a plan of action aimed at reforming Iran's economy. The IMF official predicted about 4-percent economic growth for the country over the current year.