TEHRAN - Assets of Iran’s National Development Fund will increase by over $8 billion in the current Iranian calendar year to reach $61 billion, the NDF deputy director has said.
Qasem Hosseini said the figure represents the worst case projection.
If the projected oil revenues are earned, the fund’s assets will hit $61 billion by the end of the year, Hosseini said.
The current Iranian calendar year began on March 21, 2013.
The NDF assets amounted to $49.9 billion in the past Iranian calendar year, he said.
He further said that $400 million from the fund will be drawn out to buy new airplanes.
Iran transfers 20 percent of its oil revenues to the NDF.
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