Iran allocates $500 million to support exports
Azerbaijan, Baku, Nov.13 / Trend F.Milad/
The Iranian government has approved allocation of $500 million to boost assets of state banks and the Export Guarantee Fund, the IRNA news agency reported.
According to Article 138 of the Constitution, $1billion of revenues from the oil and gas condensates should be allocated to support exporters in order to boost production and exports, and increase assets of state banks.
In October, First-Vice President Mohammad-Reza Rahimi said the country plans to bring non-oil exports to a new record of $45 billion by the end of the current Iranian calendar year (March 20, 2012).