TEHRAN – Iran’s liquidity reached 31.3 quadrillion rials (about $745.2 billion) in the first nine months of the current Iranian calendar year (March 20-December 20, 2020), to register a 26.6-percent growth from the figure for the end of the past year.
According to the data released by the Central Bank of Iran (CBI), the country’s liquidity had registered 20.2 percent growth in the previous year’s first nine months compared to the preceding year’s same period, IRNA reported.
The liquidity growth ratio at the end of the ninth Iranian calendar month of Azar (December 20, 2020) was 7.68, registering a 6.7-percent increase compared to the same date in the previous year.
The foreign assets of Iranian banks and institutes increased by 71.7 percent in the mentioned nine months compared to the figure for the same period in the previous Iranian calendar year, to reach 9.26 quadrillion rials (about $220.5 billion).
The CBI’s previous report published in November 2020 had put the country’s liquidity at 28.958 quadrillion rials (about $689.49 billion) in the first six months of the current Iranian calendar year (March 20-September 21, 2020), 17.1 percent more than the figure for the end of the past year.
The liquidity growth has been inevitable in the country considering the outbreak of the coronavirus and the injection of liquidity by the government for supporting households and businesses.
In mid-September 2020, board members of the Tehran Chamber of Commerce, Industries, Mines, and Agriculture (TCCIMA) had criticized the unbridled liquidity growth in the country, claiming it to be causing disruption in many economic and industrial sectors.
During the 16th meeting of the TCCIMA board of representatives, the TCCIMA Head Masoud Khansari noted that currently, liquidity is the most important factor that is disrupting the country’s economic system.
According to Khansari, if the current trend continues, the liquidity growth will reach 32 percent and 8 quadrillion rials (about $190.4 billion) will be added to the country’s liquidity by the end of the current Iranian calendar year (March 20).
Original News : https://www.tehrantimes.com/news/457716/Liquidity-rises-over-26-in-9-months