Azerbaijan, Baku, September 16 /Trend, N. Umid/
Iran's Forex Fund assets have dried up completely, member of Iran's parliamentary Plan, Budget and Audit Commission Ahmad Tavakkoli said, Eghtesadonline news portal reported.
Some $161 billion of the Fund's $176 billion worth of assets have been used by state, he said.
He also went on to note that, the state sector spent almost all oil incomes, while the private and cooperative sector only used 10 percent of the assets.
Iran's administration owed some $112.55 billion (based on the official rate of 24,700 rials per each USD) to banks and companies at the end of the last solar year which ended on March 21, Tavakkoli said.
Early in July, ex-president Mahmoud Ahmadinejad defended his government's economic management and said that Iran's foreign exchange and gold reserves hit over $100 billion, which indicates an increase by 80 percent compared to the beginning of his administration in 2005.
The government has stressed repeatedly in the last few years that the value of the Forex Fund's assets are confidential.
However, Ahmadinejad's Economy Minister said in January 2012 that no money has been left in the Forex Fund.
In 2011, Iran's Central Bank and the General Inspection Office also announced that, Iran's Forex Fund reserves value reached zero.
Despite Ahmadinejad repeatedly protected his government's economic performance, his critics say that he is responsible for about 70 percent of economic problems in Iran.
President Ahmadinejad's legacy for Rouhani includes a 1.9 percent economic contraction in 2012, over three million unemployed citizens, 40 percent of all industrial unions are closed, $400 billion debts, a $60 billion deficit in last year's budget based on the USD's official rate in Iran, 32 percent inflation, halved crude oil export and a drop in the value of the national currency by 40 per cent in 2012, alongside blocked $100 billion worth of assets in foreign countries.
