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Central Bank of Iran allocates USD13.635B for importing essential goods, commodities
(MENAFN) Since the onset of the current Iranian calendar year, the Central Bank of Iran (CBI) has disbursed USD13.635 billion in foreign currency to facilitate the importation of vital goods, medicines, and commercial commodities. Asghar Balsini, the spokesperson for the Iran Center for Exchange (ICE), revealed that out of this allocation, USD3.329 billion was earmarked specifically for the importation of medicines and essential items, with the remaining funds allocated for trade-related products.
Balsini elaborated that a portion of the disbursed funds, amounting to USD295 million, was directed towards importing technical and engineering services during the same period. Moreover, a significant portion, totaling USD2.810 billion, was allocated for the importation of fundamental agricultural goods, including wheat, oily seeds, and animal feedstock. Additionally, USD519 million was dedicated to acquiring raw materials essential for the pharmaceutical industry and medical equipment.
This significant allocation of funds follows a decision by Iran's Expediency Discernment Council in March, authorizing the government and relevant entities, including the CBI, to utilize 13.6 billion euros at a preferential exchange rate. This allocation aimed to facilitate the importation of crucial items such as agricultural products, medicine, and related raw materials, as well as essential medical equipment. The council emphasized that these preferential rates would be extended solely for the importation of essential agricultural goods and pharmaceuticals, as outlined in the approved list by the Council of Ministers.
The decision underscores the government's commitment to ensuring the availability of essential goods and commodities for its citizens, particularly in light of economic challenges and international sanctions. By prioritizing the importation of vital items, Iran aims to mitigate potential shortages and maintain the well-being of its population.
Balsini elaborated that a portion of the disbursed funds, amounting to USD295 million, was directed towards importing technical and engineering services during the same period. Moreover, a significant portion, totaling USD2.810 billion, was allocated for the importation of fundamental agricultural goods, including wheat, oily seeds, and animal feedstock. Additionally, USD519 million was dedicated to acquiring raw materials essential for the pharmaceutical industry and medical equipment.
This significant allocation of funds follows a decision by Iran's Expediency Discernment Council in March, authorizing the government and relevant entities, including the CBI, to utilize 13.6 billion euros at a preferential exchange rate. This allocation aimed to facilitate the importation of crucial items such as agricultural products, medicine, and related raw materials, as well as essential medical equipment. The council emphasized that these preferential rates would be extended solely for the importation of essential agricultural goods and pharmaceuticals, as outlined in the approved list by the Council of Ministers.
The decision underscores the government's commitment to ensuring the availability of essential goods and commodities for its citizens, particularly in light of economic challenges and international sanctions. By prioritizing the importation of vital items, Iran aims to mitigate potential shortages and maintain the well-being of its population.
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