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FinancialNews


  • 09-11-22

    40 percent of Iran’s oil revenue to be inserted into NDF

    (MENAFN) The chief of Iran’s Planning and Budget Organization (PBO) has stated that 40 percent of the oil profits gained in the ongoing Iranian calendar year (started on March 21) is going to be inserted into the nation’s National Development Fund (NDF), as reported by Shana.

    Masoud Mirkazemi stated that “This year is the first year that 40 percent of the oil revenue will go to the National Development Fund, while in previous years only 20 percent [of the revenues] were deposited into the development fund.”

    By the end of October, Tasnim news agency mentioned in a report that Iran’s oil incomes surged by eight times in the opening five months of the ongoing Iranian calendar year (March 21-August 22) the same amount was recorded in the stated period of the last year.

    Quoting official information, the agency mentioned in a report that the Islamic Republic’s oil incomes surged by 11 times in the prior year as well.

    MENAFN09112022000045014228ID1105152479

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