Middle East Economic Survey
BUDGETS AND REVENUES
Balance In Irans OSF Stands At $7.7Bn
Irans Oil Stabilization Fund (OSF) had a balance of $7.7bn on 20 May 2004, according to the Deputy Governor of the Central Bank of Iran (CBI), Mohammad Mojarrad. The OSF was established in 2000 as a reserve facility in which surplus oil revenues are deposited when oil prices exceeded budget projections. Mr Mojarrad added that the CBI wanted to achieve further stability in the foreign...