Government’s debts to Iran banks up by 26%
Baku, Azerbaijan, Feb. 7
Iranian government and state-run companies' debt to the country’s banking system has reached 2,551 trillion rials (each 37,000 rials making one USD) by Dec. 21, 2017.
The figure, which includes debts of the government and state-run companies to the Central Bank of Iran (CBI) as well, is 21.8 percent more than in the same period of last year, according to the latest data released by CBI Feb. 7.
Debt has increased by 16.1 percent in comparison with the end of the last fiscal year (March 20, 2017) which had the figure at 2,197.5 trillion rials.
That figure was 1,738.6 trillion rials and 1,466 trillion rials in the preceding fiscal years (March 2016 and March 2015 respectively).
Government's debt to the banking system witnessed a rise of 26.3 percent by Dec. 21, 2017, while compared to Dec. 21, 2016 and stood at 2,270.5 trillion rials.
Meanwhile, debts of the Iranian state-run companies to the banking system stood at 280.5 trillion rials by Dec. 21, 5.6 percent less, year on year. The figure has decreased by 17.4 percent in comparison with the end of the last fiscal year (March 20, 2017).
Meantime, debts of the non-governmental sector to the country’s banking system accounted to 10,161.8 trillion rials by Dec. 21, indicating a rise of 17 percent compared to the preceding year.
The CBI report also indicates that debts of Iranian banks to the Central Bank have reached 1,130.7 trillion rials by Dec. 21, 7.9 percent more, year on year.
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.