Despite the slump in oil prices, the Iranian government aims to invest more than $16 billion in development projects, a planning director said. Mohammad Baqer Nobakht, director of Iran’s planning organization, said Iran has the funds necessary to drive development despite low oil prices. “Over $16 billion will be invested in the country’s development projects from public resources next year, while investments from the resources of state-owned companies will amount to $34.3 billion,” he said Sunday.
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