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EghtesadOnline: The banking system’s non-performing loans have reached 1,100 trillion rials ($30 billion), 60% of which are considered doubtful debts, said the head of Monetary and Banking Committee at the Expediency Council.

“The banking system currently shoulders about 85-90% of the financing and it seems that this will continue into the upcoming Iranian year (starting March 20),” Asghar Abolhassani was also quoted as saying by Mehr News Agency. The official added that the projected figure in the sixth five-year development plan (2017-2022) for the capital market’s share in financing is 1,500 trillion rials ($40 billion) while the amount for the next Iranian year has been set at over 40 trillion rials ($10.5 billion). “The inflation rate witnessed many fluctuations during 1992- 2015 and liquidity was not safe from those fluctuations,” Financial Tribune quoted him as saying.

Iran Banking Iran non-performing loans Iran doubtful debts Asghar Abolhassani