Owji: Oil Ministry to provide projects with forex funds in collaboration with CBI

SHANA (Tehran) – The provision of foreign exchange funds for the Oil Ministry’s projects in collaboration with the Central of Bank of Iran (CBI) will be put on the agenda, said Oil Minister Javad Owji on Wednesday.

“Given the great forex reserves, we are faced with no limitations on hard currency,” IRNA quoted the oil minister as saying.

Owji, in an X post, wrote on Tuesday foreign exchange revenues will hopefully increase in 1403 (starting March 20, 2024), the solar year designated by the Leader as the year of “Surge in Production Through People’s Participation”.

“I thank the Almighty God that the oil and gas sector spent the year of 1402 with a significant economic growth, and above all, a rise in exports and a considerable increase in collection of hard currency revenues,” the post reads.

In the meantime, Iran’s Economy Minister Seyyed Ehsan Khandouzi talking about the CBI’s achievements said, “Liquidity growth rate, trade balance, and economic growth rate are the most important factors deciding the foreign exchange rates and the statistics are an indicator of the suitable conditions of these crucial factors in the year of 1402.”

News ID 639754

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