Iran’s National Development Fund currency reserves amount to $12 billion
Azerbaijan , Baku, Feb. 21 / Trend, A.Yusifzade /
Iranian Economy and Finance Minister Shamsaddin Husseini said the amount of currency reserves of the National Development Fund worth $12 billion, IRNA reported.
According to the report, Husseini said that Iran has transferred 20 percent of this year's (started March 21, 2010) oil, gas and condensates revenues to the Iranian National Development Fund.
Earlier, Husseini announced the amount of currency reserves of the National Development Fund worth $10 billion the first time for a year and a half.
"The currency reserves of the Iranian National Development Fund hit $10 billion. According to the forecasts, they will increase by $14 billion by the end of this Iranian calendar year (it will end on March 20, 2011) given the current oil prices," Husseini said.
The currency reserves of the Iranian National Development Fund totaled $13 billion the first time for a year and a half ago.
"While the fund's status has not been approved, roughly 20 percent of the proceeds from oil sales have been transferred to the fund early this year. This is a significant indicator," Husseini added.
Husseini said that Iran is one of few countries boasting positive indicators to draw foreign investments, which showed a 95 percent growth last year.