Middle East Economic Survey

VOL. LIV

No 16

18-Apr-2011

IRAN

National Development Fund Holds $14Bn

Irans National Development Fund had a balance of $14bn at the beginning of the new Iranian year starting on 21 March, according to Iranian Minister of Economic Affairs and Finance Shamsodin Hosseini. The fund was reported to have had a balance of $10bn at the end of last December. The fund was established in mid-2008 with the aim of replacing the foreign exchange reserve account known as the Oil...