State-Run Firms’ Debts To Banking System Fall
TEHRAN - The latest data released by Central Bank of Iran (CBI) indicates that the Iranian government’s debt to the country’s banking system was on the rise, meanwhile the debts of the state-run companies have registered decrease in recent months.
According to the CBI the debts of the Iranian government and state-run companies to the country’s banking system reached 2,588.7 trillion rials (Each USD made 37,700 rials at the time) by Feb. 20.
The figure, which includes debts of the government and state-run companies to the Central Bank of Iran (CBI) as well, is 23.2 percent more than in the same period of last year.
Debt has increased by 17.8 percent in comparison with the beginning 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 1,683.4 trillion rials in the preceding fiscal years (March 2016 and March 2015 respectively).
Government’s debt to the banking system witnessed a rise of 27.2 percent by Feb. 20, while compared to Feb. 20, 2017 and stood at 2,297.5 trillion rials.
Meanwhile, debts of the Iranian state-run companies to the banking system stood at 291.2 trillion rials by Feb. 20, 1.1 percent less, year on year. The figure has decreased by 14.3 percent in comparison with the begining of the last fiscal year (March 20, 2017).
Meantime, debts of the non-governmental sector to the country’s banking system accounted to 10,461 trillion rials by Feb. 21, indicating a rise of 16.6 percent compared to the preceding year.
The CBI report also indicates that debts of Iranian banks to the Central Bank have reached 1,167.1 trillion rials by Feb. 20, 1.1 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.