Over 8000 Iranian projects face budget deficit, minister says
More than 8000 projects in Iran are facing a budget deficit and remain half-finished, IRNA news agency quoted Iranian Industry, Mine, and Trade Minister Mehdi Ghazanfari as saying, Trend news agency reported.
Ten per cent of the National Development Fund's assets have been projected to be allocated to meet the financial needs of domestic production units, he noted.
The Iranian administration has allocated 1150 trillion rials (about $94 billion) for completing half-finished national projects, Iranian First Vice-President Mohammad-Reza Rahimi said last Friday.
In December, the Iranian Ministry of Industry, Mine and Trade announced it had completed 2000 half-finished projects through investing 40 trillion rials (about $3.3 billion), IRIB reported.
The Iranian government and parliament agreed to finance production sector projects using the revenues of the National Development Fund (NDF) and oil exports.
The NDF has allocated $3 billion worth of its assets in loans to the agriculture and industry sectors, the NDF's deputy manager said in September.