Middle East Economic Survey

VOL. L

No 45

5-November-2007

IRAN

OSF Balance Falls Despite Record Oil Revenue

The latest figure of $9.56bn on the balance in the Oil Stabilization Fund (OSF) as at 30 October, which was revealed by the Governor of the Central Bank of Iran (CBI) Tahmasb Mazaheri last week, has added to the confusion and lack of transparency associated with the fund, set up in 2000 to accumulate surplus oil revenue above initial budget projections. The CBI had reported a balance of...