Baku, Azerbaijan, March 11
By Fatih Karimov – Trend:
Iranian government's debt (including state-run companies) to the banking system has reached 1492.1 trillion rials (each 32,418 rials making one USD) by Jan. 20.
The figure doesn’t include debts of government and state-run companies to the Central Bank of Iran (CBI).
The figure was 1146.2 trillion rials last year (Jan. 20, 2016), registering a 30.2 percent increase year on year, the CBI said March 11.
The debt has increased by 22.5 percent in comparison with the end of the last fiscal year (March 20, 2016) which had the figure at 1218.3 trillion rials.
The government debt to the banking system witnessed a rise by 30.3 percent by Jan. 20, while compared to the Jan. 20, 2016 and stood at 1455.6 trillion rials.
Meanwhile the debts of Iranian state-run companies to the banking system stood at 36.5 trillion rials by Jan. 20, 24.6 percent more year on year.
The figure has increased by 35.2 percent in comparison with the end of the last fiscal year (March 20, 2016).
Iran's banking system has been struggling with bad loans in the past few years. Banks of Melli, Parsian, and Tejarat have the highest amount of bad loans in Iran.
The CBI report also indicates that the debts of Iranian banks and credit institutions to the central bank reached 1092 trillion rials by Jan. 20, 30.5 percent more year on year.