Economy, Business And Markets

Rising Debt

Rising DebtRising Debt

Central Bank of Iran data shows that the government owed banks 1.17 quadrillion rials ($38.7 billion) by the end of the month ending February 19, a rise of 19.6% compared to the same period last year. Private sector debt to the banking sector stood at 7.13 quadrillion rials ($235 billion), indicating a 15.4% surge compared to the same period a year earlier.