|Liquidity in Iran grows 10% in 6 months||
TEHRAN - Liquidity in Iran reached 5,060 trillion rials (about $204 billion) in the sixth Iranian calendar month of Shahrivar (ended on September 22), a 10 percent growth compared to March 20, an official at the Central Bank of Iran stated.
Liquidity stood at 4,920 trillion rials in the fifth calendar month of Mordad, Payman Qorbai told the Fars News Agency on Thursday.
According to the Central Bank’s forecast, liquidity will reach 5,660 trillion rials (about $228 billion) by the end of the current Iranian calendar year (March 20, 2014).
In October, the Central Bank of Iran reported that liquidity has grown over five folds since seven years ago.
The bank will focus on controlling liquidity and bringing down inflation as President Hassan Rouhani has agreed to separate monetary and fiscal policies, giving the central bank more independence, Central Bank Governor, Valiollah Seif, said.
Seif said President Hassan Rouhani inherited an economy in recession as international sanctions against the country weakened its currency and accelerated inflation to about 40 percent in September.
“Under the previous administration, the allocation of credit to many sectors was not based on the analysis of experts,” Seif said. “There was a housing project for the poor, and a lot of resources were allocated to that, about 40 percent of the liquidity volume.”
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