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Iran’s CBI announces volume of funds allocated for imports of essential products

Finance Materials 25 October 2020 15:06 (UTC +04:00)
Iran’s CBI announces volume of funds allocated for imports of essential products

BAKU, Azerbaijan, Oct. 25

By Elnur Baghishov – Trend:

Iranian government has allocated $6.21 billion worth of funds for the imports of essential products since the beginning of the current Iranian year (March 20, 2020), Trend reports citing Central Bank of Iran (CBI).

According to the report, of this volume, $1.62 billion was allocated for imports of corn, $260 million – for barley, $777 million – for oilseeds, $778 million – for unprocessed cooking oil, $638 million – for compressed soybeans, the report added.

At the same time, $330 million of these funds was allocated for imports of wheat, $40 million – for fertilizer, $30 million – for paper, $615 million – for medical equipment, $985 million – for medical means and their raw materials, and $137 million – for other goods.

According to the report, it is envisaged to allocate $8 billion worth of funds for imports of essential products in Iran in the current Iranian year (from March 20, 2020 to March 21, 2021).

“Of these funds, $5.5 billion is planned to allocate for imports of some essential products including corn, oilseeds, unprocessed cooking oil, compressed soybeans, barley and wheat, $1.5 billion – for medical means, $1 billion – for medical equipment,” the report said.

The funds for imports of the mentioned essential products in Iran are allocated on the basis of Iranian official currency rate ($1 equals to 42,000 Iranian rials).

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