Iran discloses amount of funds allocated for shipbuilding

Business Materials 27 January 2020 21:02 (UTC +04:00)
Iran discloses amount of funds allocated for shipbuilding

BAKU, Azerbaijan, Jan. 27

By Elnur Baghishov - Trend:

Iran’s National Development Fund has allocated $750 million to increase maritime potential during the next three years, Chairman of the Iranian Plan and Budget Organization Mohammad Baqer Nobakht said.

Nobakht made the remark following the meeting of the resistance economy committee, Trend reports referring to the organization’s website.

“In accordance with the report of the Supreme Council of the Iranian Navy, there is a 62 percent potential for shipbuilding in Iran,” the chairman added.

Nobakht added that up to 85 percent of the shipping capacity may be ensured domestically.

As for the issues discussed at the meeting, the chairman said that the growth is observed in the capital and stock markets.

“The projects have been successfully implemented by various agencies within the resistance economy,” the chairman said.

“The positive impact of these projects may be observed in the tax sector,” the chairman said. “Tax revenues worth 1.7 quadrillion rials ($41.6 billion) are expected to be obtained from March 21, 2020 through March 2021.”

"Tax revenues worth more than 1.4 quadrillion rials (about $33.3 billion) this Iranian year (beginning on March 21, 2019)," Nobakht said.