Baku, Azerbaijan, May 8
By Khalid Kazimov – Trend:
Central Bank of Iran (CBI) may increase the volume of loans allocated to various sub-sectors of economy by 30 percent.
Valiollah Seif, the CBI governor, has forecast that the volume of loans will increase by 30 percent over the next fiscal year (to start March 20, 2018), ISNA news agency reported.
According to the official, the country’s banking system over the last fiscal year paid over $169 billion in loans.
According to World Bank, Iran’s GDP growth stood at 6.4 percent in 2016, largely as a result of the oil sector’s bounce back, both in production and exports, following the removal of sanctions in January 2016 through the nuclear deal. The figure is expected to stand at 4 percent, 4.1 percent and 4.2 percent in 2017, 2018 and 2019, respectively.