Only 53 Percent of Government Bonds Offered at This Year's 11th Auction Found Buyers

According to Ecoiran, at this year's 11th government bond auction the state offered 84,100 billion tomans in bonds but sold only 44,600 billion tomans, about 53 percent. The report said total bond sales since the start of the year have covered only 22 percent of the budget ceiling set for this financing channel. It attributed the shortfall to a widening gap between the government's financing needs to cover its budget deficit and buyers' willingness to purchase the bonds.