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04/17/11

Iran Forex reserve hits $100B: Finance Minister

WASHINGTON D.C., Apr. 17 (Mehr News Agency) -- Iran's foreign exchange reserves stands at 100 billion dollars, Finance and Economy Minister Shamseddin Hosseini told reporters in Washington on Sunday. Hosseini also put the nation's foreign debt at 20 billion dollars.

Iran's Economy Minister Shamseddin Hosseini
Iran's Economy Minister Shamseddin Hosseini

"Iran's non-oil exports and the volume of transited goods via the country rose by 24 percent and 40 percent in the previous calendar year (ended March 20), respectively," he said.

The official further noted that Iran had oil and non-oil trades with 190 countries last year.

The economy of Iran is the eighteenth largest in the world by purchasing power parity (PPP), according to the World Bank statistics in 2010.

President Mahmoud Ahmadinejad has said by continuing the drive toward improving its global economic standing, Iran will become the world's 12th economy in the space of five years, press TV reported.

"The country's foreign currency reserves have been estimated at 100 billion dollars, but it is definitely more than this figure," Ahmadinejad told last year in Tehran.

The president also said that financial resources should be allocated to various economic sectors at the appropriate time and in proportion to their weight.

... Payvand News - 04/17/11 ... --



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