Bank loans to economic sectors up by more than 280% in 4 months year / year
TEHRAN – The Iranian banking system has disbursed 7.01 quadrillion rials (over $ 166.9 billion) in facilities to domestic economic sectors in the first four months of the current Iranian calendar year (March 21-July 22 ), registering an increase of 280.4% compared to the figure for the same period the previous year.
According to data provided by the Central Bank of Iran (CBI), banks disbursed 2.5 billion rials (about $ 59.5 billion) in facilities to various economic sectors in the first four months of the year. previous civilian, reported IRNA.
As reported, working capital loans disbursed to different economic sectors during the mentioned four months amounted to approximately 4.794 billion rials (approximately 114.14 billion dollars), representing 68.4% of the total facilities provided.
During the said period, the country’s mining and industrial sector received more than 1,717 quadrillion rials (about $ 40.8 billion) in the form of working capital loans, accounting for 35.8% of the total of these facilities.
In July, the CBI announced that more than 4.976 billion rials (over $ 118.4 billion) in facilities had been paid to various economic sectors during the first quarter of the current Iranian calendar year (March 21 – June 21) to register an increase of 71.3% compared to the same period of the previous year.
According to CBI, the country’s banking system offered 18.989 billion rials (approximately $ 452.1 billion) in facilities to domestic economic sectors in the previous Iranian calendar year of 1399 (ended March 20), or 94, 8% more than the figure for the previous year.
CBI has defined production support as one of its main plans over the past two years.
In early May 2019, former CBI Governor Abdolnaser Hemmati outlined the CBI’s plans to neutralize or mitigate the impact of US sanctions on the country’s economy and mentioned the provision of liquidity and working capital for maintain and stimulate domestic production as one of these plans.
CBI’s plans take two main approaches, one of which is to secure the financing of production activities and also to provide the necessary working capital for these activities.
EF / MA