Debt, Deficit Spending Thickens Money Supply

The Central Bank of Iran says broad money supply and the monetary base increased sharply in the first quarter (March 21-June 21) of this fiscal year largely due to the omnipresent deficits and the government’s lack of fiscal discipline.
The bank published quarterly monetary data on Tuesday that also links the increase in CBI foreign assets (held overseas but not accessible due to the US sanctions) to the ballooning money supply.
As per data seen on the CBI website, broad money supply reached 37,054 trillion rials ($148 billion) at the end of the Iranian Q1, rising 6.6%
This increased by 39.4% in 12 months, up 5.2 percentage points compared to the annualized 34.2% growth in the corresponding quarter last year.