Friday, 3 December 2010

Iran transfers 20 per cent of oil revenues to Iranian National Development Fund

Iran's Economy and Finance Minister Shamsaddin Husseini has said that Iran has transferred 20 per cent of this year's oil revenues to the Iranian National Development Fund.

"While the fund's status has not been approved, 20 percent of the proceeds from oil sales have been transferred to the fund since early this year, and this is a significant indicator," said Husseini.

Iran is the third largest oil producer in the world, with production numbers reaching in the region of 3.8 million b/d in 2009. Husseini said that Iran is one of few countries to boast positive indicators for attracting foreign investment, which showed 95 per cent growth last year alone.

"Last year, the growth index on the Tehran Stock Exchange hit 58 percent and we maintained the same level this year," the minister added.

Source: Trend News Agency

For more news and expert analysis about Iran, please see Iran Strategic Focus.

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