New report: Dramatic growth in liquidity and debts of the Ebrahim Raisi government to the Central Bank
Despite promises by the Ebrahim Raisi government to stop borrowing from the Central Bank, new official statistics show that this trend has continued and liquidity has jumped by about 70 trillion tomans since the 13th government took office in August last year until February.
A new report from the Central Bank, published on Monday, April 10, shows that Ebrahim Raisi's government has borrowed more than 10 trillion tomans from the Central Bank since it took office in August last year until February of the same year, and the volume of government debts to the Central Bank has reached about 212 trillion tomans.
The volume of government debt to the Central Bank increased by 42% in Bahman last year compared to Bahman 2020.
This is despite the fact that Ebrahim Raisi, at the beginning of his government's work in August last year, had promised that the government's borrowing process from the Central Bank, which leads to increased liquidity and inflation, would be stopped.
Government debt to the Central Bank has almost doubled from February 2019 to February 2020. Over the past three years, about a third of the government budget has consistently faced a deficit and has been financed through borrowing, an issue that has fueled liquidity surges and rampant inflation in the country.
According to Central Bank statistics, liquidity peaked at 4.624 trillion Tomans in Bahman last year. In the 13th administration, more than 70 trillion Tomans have been added to the country's liquidity; in other words, in the seven months of Ebrahim Raisi's administration, liquidity in the country has increased by 18 percent.
The Raisi government had promised to control liquidity in the country. In recent months, government officials have stated that the country's high liquidity and inflation growth were the result of the previous government's performance, the effects of which have continued to this day, and that the results of the 13th government's efforts to control liquidity and inflation will show their effects in the future.
Liquidity is one of the most important factors in inflation. Central Bank statistics show that the level of liquidity in the country has increased by nearly 40 percent from February 2019 to the same month last year.
Another part of the Central Bank's report addresses the country's foreign debt situation.
According to this report, the country's foreign debt reached $8.885 billion in February last year, of which $2.6 billion will mature in the short term and the rest in the medium and long term.
The amount of Iran's foreign debt in February last year did not change much compared to February 2020.
Source: Radio Farda
