New Budget Will Spawn Inflation

March 8, 2021

T he central bank governor says provisions of the March 2021-22) are likely to keep the money-printing presses busier and expand the money supply.

In a note on the CBI website, Abdolnasser Hemmati implicitly criticized the Majlis for padding the budget with rules that overburden the ailing banking system.

'Figures approved in the budget include decrees to the central bank and the banking system, which ultimately could result in high-powered money and money supply growth,' he warned.


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