The amount of salary received from the Central Bank in the 13th government became 21st

According to the Iran Economist report from the Ministry of Economy, the Central Bank published the details of the monetary and banking variables of May 1401, according to its statistics, the total volume of the monetary base reached 632 thousand 210 billion Tomans, which shows a 6.5% growth compared to the end of last year. . The monetary base experienced a growth of 7.4% in the first two months of last year.

Also, the growth of liquidity in the first two months of this year was 4,943,470 billion tomans, which was a 2.3% increase compared to March of last year. The liquidity growth figure in the first two months of the previous year was equal to 3.6%; Therefore, in the first two months of this year, the growth rate of liquidity has decreased significantly compared to the same period last year.

The policies of the government and the central bank in the 13th government were to control the growth of the monetary base and liquidity, and in this regard, the control of the balance sheets of the banks and the significant reduction in receiving interest from the central bank and not borrowing from the central bank were among the policies of the government during this period; But it seems that one of the reasons for the 6.5% growth of the monetary base in the first two months of this year was the implementation of the policy of removing 4,200 tomans of foreign exchange and paying cash subsidies, because this policy was implemented in the first step at the same time as the government’s collection from the place of sale of foreign currency with The distance has been achieved, but the one-time cash subsidy has been paid.

This phenomenon occurs only in the first step, and in the months after May, liquidity will not grow from this place, because at the same time as the cash subsidy is paid, the income from the sale of foreign currency will be deposited into the government account.

*Figures are in billions of Tomans

According to this report, the net foreign assets of the Central Bank decreased by 5.4%, the claims of banks from the Central Bank decreased by 6.1%, and the net of other items of the Central Bank decreased by 55.6%.

In fact, the debt of banks to the central bank has decreased from 146,270 billion tomans to 137,390 billion tomans. In the meantime, the debt of state-owned commercial banks has decreased from 49,610 billion tomans with a decrease of 8.1% to 45,570 billion tomans, and the debt of non-governmental and private banks has decreased by 8.8%, from 47,430 billion tomans. 43 thousand 260 billion tomans have decreased. The debt of specialized banks is 48,560 billion tomans, which has decreased by 1.8% compared to March of last year.

However, the net claims of the central bank from the government in the first two months of this year grew by 105.9% and reached a positive of 5,100 billion tomans.

At first glance, it seems that the reason for this net increase in the government’s claims to the central bank is the government’s borrowing from the central bank, but when we look at the government’s debt (gross debt) to the central bank, we see that, firstly, the net growth of the government’s debt to the central bank In the first two months of last year, it was 183.8%, but the growth of this variable in the first two months of this year was 105.9%.

Second, the real and gross growth of the government’s debt to the Central Bank in the first two months of this year only increased by 1630 billion tomans, from 132 thousand 240 billion tomans in March 1400 to 133 thousand 870 billion tomans, which shows a 1.2% growth in government debt. to the central bank, but in the first two months of last year, the government received 35 thousand 880 billion tomans from the central bank, and because of this, the government’s debt to the central bank increased from 115 thousand 220 billion tomans to 151 thousand 100 billion tomans .

According to the law, the government can receive the equivalent of 3 thousand from the public budget figure from the central bank and settle it by the end of the year. The reason why the legislator has determined this temporary government borrowing from the central bank is the government’s delay in collecting its revenues and the need for liquidity in the first few months of the year.

But in the 13th government, despite the fact that the government could receive at least 41,823 billion tomans from the central bank, in the first two months of this year, it received only 1,630 billion tomans from the central bank, which indicates a 95.4% decrease in the government’s use of the budget. .

But why the “net” debt of the government to the central bank has grown significantly in the first two months of this year? The reason for this growth is the use of government deposits with the central bank because the net concept of the government’s debt to the central bank is the government’s debts to the central bank minus the government’s deposits with the central bank.

Therefore, despite the fact that the government received only 1630 billion tomans in the budget in the first two months of this year, but due to the use of its deposits with the central bank, the government’s net debt to the central bank has grown significantly.

The government’s purpose of not using the budget allowance is to try to establish financial discipline and control the monetary base and liquidity, and this is the first time that instead of receiving the budget allowance from the central bank, the government used its deposits with the central bank for temporary financing of the budget. Is.