TEHRAN - Figures by the Central Bank of Iran (CBI) show the country’s hard currency income rose 18.6 percent in the quarter to late June compared to the same period last year.

The CBI figures published on Sunday showed that Iran’s hard currency revenues had reached $25.5 billion in the three months to June 20.

The figures showed that Iran’s positive balance of trade had also soared 51.3 percent to $11.2 billion in the June quarter.

The CBI said it had allocated $3.975 billion to imports of basic goods and medicine in the 101 days to June 28, adding that some $13.442 billion had been earmarked to imports of other commodities and goods over the same period.

Back in March, Iran’s Expediency Discernment Council authorized the government and the state management apparatuses, including the CBI, to spend 13.6 billion euros at a preferential exchange rate for the import of basic items such as agricultural products, medicine, and its raw materials as well as medical equipment.

Council members took the decision on the import fund allocation while meeting under the chairmanship of Ayatollah Amoli Larijani to discuss and review the budget for the current financial year.

They stressed that the government would offer preferential rates for clearing or exchanging foreign resources resulting from the export of oil, gas, and gas condensates for the import of “only basic agricultural goods and medicine”, the list of which was approved by the Council of Ministers at the end of April.

The imports are overseen by a working group consisting of the first vice president, the head of the central bank, the head of the country's planning and budget organization, the minister of economic affairs and finance, the minister of agriculture as well as the minister of industry, mining, and trade.

The Minister of Health along with other relevant bodies are also required to implement and monitor the allocation, distribution, and use of currency for medicine and equipment.

In addition, the central bank is obliged to prepare monthly reports on the implementation of Clause 4(A) of the Budget Law.

EF/