Credit-to-GDP Ratio at 10-Year High

Due to chronic inflation and the rising need for bank loans, credit given by banks has increased dramatically in the past decade.
Overall lending increased by almost 9.4 times over ten years, registering an average 27% annual growth, the Tehran Chamber of Commerce, Industries, Mines and Agriculture (TCCIM) said in a report.
Citing data released by the Central Bank of Iran, the TCCIM’s Economic Research Department said the ratio of credit made available by domestic financial institutions to GDP was the highest in the last fiscal year that ended in March.
Accordingly, the average ratio was 30% in the first half of the last decade, rising to 45% in the second half. It   reached its apex in the last fiscal year and amounted to  55.3% of the GDP.