Bond Market Logs Sizable Growth

The bond market in Tehran has grown exponentially in the current fiscal year thanks to government endeavors to tap into debt instruments to help cover budget deficits. 
Market size was estimated at 2,860 trillion rials ($11.4 billion) by end of the previous calendar month to February 18. The market has grown by a whopping 1,800% in five years, according to a report released by the Securities and Exchange News Agency.  
The figure has doubled to 110% compared to the first eleven months of last year and was 230% higher compared with the same period two years ago. 
Despite meteoric growth, the market is still small when gauged against major economic variables.