Seyyed Shamsiddin Hosseini said about the performance of the National Development Fund, One of the issues faced by oil-rich countries and economies, or countries where part of their incomes are in foreign currency and even their governments' incomes are dependent on oil, is the fluctuation of these incomes, because the so-called economists of these countries They are price takers, that is, the prices of these countries are determined in the world markets by mechanisms that these countries do not have much influence on, so they are not price takers and are price takers.
The representative of the people of Tankabon, Ramsar and Abbas Abad in the Islamic Council explained the problems caused by the fluctuations of foreign exchange income, for example when these incomes increase, it can cause problems such as Dutch disease, that's why even decades ago Historically, before the Iranian Islamic Revolution, oil exporting countries tried to create mechanisms to protect themselves from the negative consequences of these fluctuations, which has led to the formation of funds and institutions, for example in our country IFIC ( Foreign Investments Company) which is available in the Ministry of Economic Affairs and Finance was created almost with such a philosophy.
He added: This issue was also done in most of the oil-producing or oil-exporting countries, and one of the most important successful examples of that country is Norway.
The foreign exchange reserve account was created for this purpose, on the one hand This fluctuation should be prevented and on the other hand, a spare (additional) fund should be created that can cover the future with the view of sustainable development and preserving inter generational resources,he said.
A member of the Program, Budget Commission in the parliament, saying that in general, it can be said; The foreign exchange reserve account was unsuccessful, he continued: One of the damages that were mentioned for this account was that the foreign exchange reserve account did not have a legal personality and it was an account, which caused the issue of the foreign exchange reserve fund to be raised, which eventually ended up in the National Development Fund. Became.
Pointing out that if we want to evaluate in this area, we must have a relative evaluation, he clarified: In my opinion, the National Development Fund mechanism is more successful than the currency reserve account mechanism because it has a legal personality. There is a board of trustees, an executive board, and a supervisory board, and their effort is to preserve the fund's resources, despite the fact that the foreign currency reserve account is in some way oppressed among the accounts of the central bank.
Hosseini added: "In this respect, the National Development Fund has been more successful than the foreign exchange reserve account. Currently, we know that this fund exists and has resources, and in some cases, the board of trustees or the executive board rose against some perceptions of this fund and with They deal with it, but what needs to be addressed now is the greater role of the National Development Fund.
The head of the special commission for growth and production growth of the parliament stated: In the 7th development plan, we must make a diagnosis, in the sense that now that we have such resources, how to use them in two directions; First, not only these resources remain for future generations, but also increase, secondly, if these resources are going to increase, how should they be compatible and in line with national development.
