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[size=36]The Iranian Central Bank: We printed the currency for two years to compensate for the budget deficit[/size]
Economie| 11:52 - 29/03/2021
Follow-up - Mawazine News
Governor of the Central Bank of Iran, Abdel Nasser Hemmati, revealed that the government resorted to printing currency during the past two years, in order to compensate for the deficit in the budget and government resources.
Hemmati said in a television interview that the government had no other option to fill the budget deficit, stressing that this step increased inflation in the country.
Hemmati also revealed that eleven people in Iran borrowed funds amounting to 90 thousand billion tomans from banks, and only about 30 thousand billion tomans were recovered from them.
"Unfortunately, bank financing is seductive and can generate corruption and there are definitely some people trying to take advantage of that," he said.
Hemmati's statements do not coincide with Iranian President Hassan Rouhani's announcement on more than one occasion that the government has not resorted to printing money, nor has it borrowed from the central bank to fill the deficit.
Governor of the Central Bank of Iran, Abdel Nasser Hemmati, revealed that the government resorted to printing currency during the past two years, in order to compensate for the deficit in the budget and government resources.
Hemmati said in a television interview that the government had no other option to fill the budget deficit, stressing that this step increased inflation in the country.
Hemmati also revealed that eleven people in Iran borrowed funds amounting to 90 thousand billion tomans from banks, and only about 30 thousand billion tomans were recovered from them.
"Unfortunately, bank financing is seductive and can generate corruption and there are definitely some people trying to take advantage of that," he said.
Hemmati's statements do not coincide with Iranian President Hassan Rouhani's announcement on more than one occasion that the government has not resorted to printing money, nor has it borrowed from the central bank to fill the deficit.
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