Broad Money Growth at Record High in Iran

May 2, 2021
banking

M oney supply growth made history in the last fiscal year (March 2020-21), reaching the highest in five decades spurred by the high fiscal deficit and Coivid-19.

Data released by the Central Bank of Iran suggest that broad money supply increased 40.6% compared with the year before. Without presenting precise figures, the CBI said the monetary base also grew 29.2% on an annualized basis -- expanded by 1,030 trillion rials to reach 4,550 trillion rials.

“Growth in money supply was largely impacted by the foreign sanctions, the steep decline in forex revenues and CBI obligations to pay for the blocked forex assets [in rial equivalent to the government],” the CBI said in a report published on its website.

financialtribune



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