Abstract
Iranian officials and planners have always been concerned about the optimum use of the country’s oil and gas revenues, as well as maintaining stability in the way those revenues are applied to the national budget. Various methods were implemented in pre-revolutionary development programs, including the establishment of a Planning and Budget Organization in 1948 to ensure the efficient use of these resources. Using oil revenues to build production and infrastructure capacity was an important incentive for the establishment of this organization; but from the very beginning, the government was forced to spend part of the natural resource proceeds.
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Notes
- 1.
“Overview of Foreign Exchange Reserve Accounts Out of Crude Oil Exports, related to the Modification Plan of Section B: Amendments to the Third Development Plan Act”.
- 2.
This happened after 2004 governmental election in which the right won the election.
- 3.
- 4.
- 5.
- 6.
According to this paragraph, petroleum ministry shall deposit any revenue from export of crude oil directly into the Treasury accounts of the country as a whole, after deducting the buy-back reimbursements. The Central Bank is obliged to deduct twenty percent (20%) of this account on a monthly basis as the share of National Development Fund and deposit it into the relevant account.
- 7.
Pile-Foroush et al. (2018).
- 8.
Shirkhani et al. (2010).
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Abdolalizadeh, Z. (2021). Public Wealth Management and Distribution in Iran. In: Pereira, E.G., Spencer, R., Moses, J.W. (eds) Sovereign Wealth Funds, Local Content Policies and CSR. CSR, Sustainability, Ethics & Governance. Springer, Cham. https://doi.org/10.1007/978-3-030-56092-8_6
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