Iran to invest $3 billion in private sector

Published June 14th, 2001 - 02:00 GMT

Iran is to invest $3 billion in the private sector, announced the central bank governor Mohsen Nourbakhsh on Wednesday, June 13. The amount to be invested accounts for 50 percent of the country’s surplus revenues in the year 2000.  

 

"Fifty percent of the revenues will be invested in the private sector, and the rest will be saved to support projects in the annual national budget in case of a fall in oil prices," said Nourbakhsh to the official IRNA news agency. Although he made no specification as to where in the private sector the government intends to invest, he stated that the banking system is to play an active role in encouraging the private sector.  

 

Although there are there are no private banks in Iran, investments in different market sectors takes place by private investment firms. — (MENA Report) 

© 2001 Mena Report (www.menareport.com)


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