TEHRAN -- Based on the provisions of the Fourth Five-Year Socioeconomic Development Plan (2005-2010) withdrawal from the Oil Stabilization Fund (OSF) to make up for the budget deficit is forbidden, said a fund official here Wednesday.

Mir-Saeid Nikzad added in a Mehr report, “In the past Iranian calendar year (ended March 20, 2007), $200 million of the fund was allocated to the development and expansion of the transportation system in particular the maritime sector.”

In its bid to cushion the government budget from fluctuations in oil revenues due to international price changes, Iran’s government in the recent years, has established the Oil Stabilization Fund (OSF). Revenues from periods of high prices would be used when revenues were low.

News Code 104272

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