Consequences of Selling Bonds

The rise in government borrowing through the sale of bonds does not have a worrying effect on inflation and the nominal interest rate in a stable economy with an inflation rate of 2% and zero interest rate. 
However, the impact of such borrowings and debts in an unstable economy like Iran’s with an inflation rate of 50% and an interest rate of 20-30% can be alarming given the inflationary expectations, Ali Cheshomi, an economist, wrote for the Persian-language daily Donya-e-Eqtesad. 
A translation of the text follows:
The annual budget deficit leads to the accumulation of government debt. Thanks to oil revenues, the concept and calculation of the Iranian government’s budget deficit is complicated. Non-oil budget deficit is the best criterion to analyze budget deficit,