Iranian Gov’t. Withdraws $4.7b from OSF

Iran’s government withdrew 42.054 trillion rials ($4.7 billion) from the Oil Stabilization Fund (OSF) in the first four months of the current Iranian year (started March 21), the Ministry of Economic Affairs and Finance reported here on Wednesday. The figure shows a 37 percent fall when compared to that of the same period in previous year which was 66.88 trillion rials ($7.2 billion), Tehran Times reported.

Of the figure, 34.525 trillion rials ($3.7 billion) was earmarked to the construction projects and 4.41 trillion rials ($475.7 million) was drawn from OSF for supporting schools against quake.

The Central Bank of Iran (CBI) announced that the OSF has already $6.3 billion worth of credit