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Iran's foreign debts increase by 7.4%

Iran's foreign debts increase by 7.4%

Date: 31 December 2015 18:47

Baku, Azerbaijan, Dec. 31

By Fatih Karimov - Trend:

Iran’s foreign debts reached $5.484 billion by June 21, the Central Bank of the country said.

The country’s foreign debts registered an increase by 7.4 percent compared to the last fiscal year (March 21).

The short-term foreign debts were counted at $454 million, meanwhile the long-term debts stood at $5.031 billion.

Iran's foreign debt has been on the decline since 2007. From that year to March 2015, the country’s foreign debt lowered from $28.647 billion to $5.108 billion.

The country’s foreign debts stood at $19.185 billion in 2012, $7.682 billion in 2013 and $6.655 in 2014, according to the report.

The foreign debt is that part of the total debt in a country that is owed to creditors outside the country. The debtors can be the government, corporations or private sector. The debt includes money owed to private commercial banks, other governments, or international financial institutions such as the International Monetary Fund (IMF) and the World Bank.

The central bank of Iran also put the country's unemployment rate at 10.8 percent by June 21. Some 24.5 million people were employed in Iran in that period.

The country's urban and rural unemployment rate in the mentioned period stood at 12 and 7.6 percent, respectively.

Unemployment among men and women was also around nine and 19.2 percent, respectively.

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