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Sovereign Wealth Funds Briefing - Categorized | Financials, Fund Profile/New Launches

Iran’s national development fund to reach $50 bln

Posted on 03 May 2012

The fund that siphons off Iran’s oil revenue for future social investment will reach $50 billion by the end of this year, which ends on March 20, 2013, said Finance and Economic Affairs minister Shamseddin Hosseini.
20 per cent of Iran’s oil revenues each year are deposited into Iran’s National Development Fund. “Last year, the fund’s reserve hit $30 billion. This year, its reserve will be dependent on oil prices,” Hosseini said………………………………………..Full Article: Source


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