NCRI – The government of the Iranian regime’s President, Mahmoud Ahmadinejad, is running a staggering $140 billion debt, according to figures released by the regime’s Central Bank. $60 billion alone is owed to Iran’s Central and domestic banks.
The numbers are overwhelming especially because over the past four years the government has spent all of the $256 billion oil revenue, but according to the state-run Aftab News, it has generated a tab of $140 billion in additional spending.
According to Aftab News, for the past five months, the Central Bank has refused to release data about the debt, budget and government expenditures. But, according to the data compiled by the state-run website based on the Central bank statistics, the government owed $55.4 billion in February 2010 to the regime’s banks. On the basis of this data, the government has yet to pay Social Services $21 billion, the Armed Forces Social Services $4.5 billion, water and electricity contractors nearly $6 billion dollars, and $1 billion dollars for each of the Transportation and Oil ministries.
The government and state-owned enterprises have over the past four years issued government bonds which they pay the principal and interest for. The total debt arising from these bonds reaches up to $16 billion, according to Aftab.
The government’s foreign debt is about $23 billion, $8 billion of which it has to pay back annually. Other government arrears include:
1. Retiree pay: $2.8 billion
2. Government deficit in payments to the Treasury for 2007 and 2008 oil revenues: $8 billion
3. Cooperatives Foundation of the Islamic Revolutionary Guard Corps: $4.5 million
4. Municipalities: $700 million
5. Martyr Foundation and Astan Qods Razavi Foundation: $1.5 billion
Ahmadinejad’s government had a deficit of $6 billion this year, which will reportedly increase to $13 billion by next year.
